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Z.l December 7,1994 Flow of Funds Accounts Flows and Outstandings Third Quarter 1994 Board of Governors of the Federal Reserve System, Washington, D.C. 20551 Flow of Funds Accounts Third Quarter 1994 This publication presents the flow of funds accounts for 1994:Q3 and revisions to data for 1993:01 through 1994:Q2. The data incorporate figures from the national income and product accounts (NIPA) published by the Bureau of Economic Analysis on November 30,1994. The tables that follow include data for both flows and outstandings. Numbers for tables with flows are prefaced with an E and those for levels tables with an L- The table of contents provides a listing of the tables. A list of source data available for the release is on pages iv to vi. Significant revisions to data in previous quarters include the following: • In the household sector (table F.100), where most asset flows are estimated residually, the accumulation of financial assets over 1993 and the first half of 1994 is now shown to have been larger. Household sector liabilities, including consumer credit, were pared down a bit over 1993 and 1994:Q1; but liabilities were revised up in 1994:Q2, primarily due to new information indicating additional home mortgage borrowing. • In the nonfinancial corporate business sector (table F.104), flows of assets were changed to reflect new information contained in the Quarterly Financial Report published by Census Bureau. In particular, trade credit in 1994:Q1 and 1994:Q2 was revised up by somewhat more than trade debt in the same quarters. On the liability side, net issuance of bonds and equity was revised down in the first half of 1994, based on more complete source data for those flows. • Net accumulation of assets in 1994:Q2 by life insurance companies (table F.121) was revised down, based on information provided by the American Council of Life Insurance . • Estimates of the net accumulation of financial assets—particularly corporate equities—of state and local government retirement funds (table F.124) in 1993:Q4 were revised up, based on new data from the Census Bureau. • Financial flows of finance companies (table F.125) from 1993:Q1 forward were altered to reflect data published earlier in the Federal Reserve’s G.20 release. • Net acquisitions of financial assets by the security brokers and dealers sector (table F.131) in 1994:Q2 were increased, as was the increase in liabilities, based on new source data from the Securities and Exchange Commission. • Estimates of net issuance of state and local governments tax-exempt debt (table F.212) were raised over 1993 and the first half of 1994, based on revised data from primary sources. Relation of Flows to Outstandings. Estimates of financial assets and liabilities are linked to data on flows. However, figures on outstandings contain breaks in series that could affect analysis of relationships over time. Specifically, outstandings in the flow of funds accounts are related to the flows in the following way. Outstanding t= Outstanding t-i+ Flowt+ Discrepancy t where t is the time period. Level-flow discrepancies or series breaks result from changes in valuation, breaks in source data, and changes in definitions. For most series, the discrepancy is zero for nearly all time periods. However, in a few instances, the discrepancy is nonzero for almost all time periods, or can be quite large in a particular quarter, such as a period when there is a sharp increase or decrease in equity prices or a major break in source data. -ii- The discrepancies in the outstanding-flow relationship can distort estimated rates of growth in assets and liabilities between periods. In order to minimize these distortions, percentage changes in assets and liabilities in flow of funds releases are calculated in the following manner: Percentage change t= (Flow t /Outstanding t_i) * 100 Preliminary Estimates. Figures shown for the most recent quarter in these tables are based on preliminary and incomplete information. A summary list of the principal sources of information available when the third-quarter data were compiled follows this preface. The distinction between “available” data and “missing” data is not between final and preliminary versions of data, but rather between those source estimates that are fully ready when the latest quarterly estimate is compiled and those that are not yet completed. However, the items that are shown as available are, in general, also preliminary in the sense that many series are subject to regular quarterly or annual revision by source agencies. Margins of Uncertainty. Flow of funds statistics, like all aggregate data, are subject to uncertainties resulting from incompatibilities among source data, potential revisions in both financial and nonfinancial series, and incomplete data in certain parts of the accounts. The size of these uncertainties cannot be quantified in precise statistical terms, but allowance for them is explicitly made throughout the accounts by the inclusion of “discrepancies” for various sectors and transaction types. A discrepancy for a sector is the difference between its measured sources of funds and its measured uses of funds. For a transaction category, a discrepancy is the difference between measured total funds borrowed through the financial instrument less measured funds lent through that type of instrument. The size of such discrepancies relative to the main asset or liability components is often one indication of the degree of measurement difficulty with source data, especially on an annual basis. For quarterly data, differences in seasonal adjustment in financial and nonfinancial components of the accounts sometimes result in discrepancies that cancel in annual data. Availability of Data. Flow of funds statistics are usually compiled and available about two months following the last quarter reported. The Z.7 release, “Flow of Funds Summary Statistics,” is made available as soon as a new quarter’s data have been compiled. The Z.7 provides an overview of the major credit markets, together with developments in a few key sectors. The Z.7 is available from the Board’s Publications Services and electronically through the Economic Bulletin Board of the Department of Commerce. This publication—the Z.1 release, which covers the full range of the accounts--is subject to printing and mailing delays of up to two weeks from the time the estimates are completed. To facilitate access in the meantime, preliminary copies are distributed to Federal Reserve Bank information offices for use by the public. Data from the flow of funds accounts are also available on 3-1/2 inch diskettes. The diskettes contain quarterly data beginning in 1952, organized in files that correspond to the tables published in the Z.1 release. One diskette contains the seasonally adjusted flows, a second diskette contains unadjusted flows, and the third diskette contains the outstandings, which are not seasonally adjusted. In addition, the outstandings diskette contains files with the monthly debt aggregate data published in the Board’s H.6 release (monthly data from January 1955 forward), annual data from the “Balance Sheets for the U.S. Economy 1945-93” (C.9 release), and supplementary tables. Subscription Information. The Federal Reserve Board charges for subscriptions to all statistical releases. The annual price of the Z.7 Summary Statistics release is $5.00; the annual price of the Z.1 release is $25.00. Diskettes are available at $25.00 per diskette. Inquiries for releases or the diskettes should be directed to: Publications Services, Stop 127 Board of Governors of the Federal Reserve System 20th and Constitution Avenue, N.W. Washington, DC 20551 (202) 452-3244 A Guide to the Flow of Funds Accounts is available. The Guide explains the principles underlying the accounts and describes how they are constructed. The Guide may be ordered from Publication Services for $8.50. -iii- Availability of Data for Preliminary Estimates for 1994:Q3 Available at time of publication Major items missing Preliminary estimates, seasonally adjusted, for 1994:Q3 and annual revisions for unadjusted flows for 1991-1993. None, NONFINANCIAL DATA 1. National income and product accounts (NIPA) FINANCIAL DATA I V ' 2. Household sector (Tables F.100 and L.100) Estimates for this sector are largely residual and derived from data for other sectors. Availability of data is dependent on schedules for other sectors. Data for consumer credit, which are estimated directly rather than through a residual calculation, are available for 1994:Q3. 3. Farm business (Tables F.102 and L.102) Mortgages, bank loans, and loans from government-sponsored enterprises for 1994:Q3. Data for U.S. government loans to farms since 1991 :Q4. 4. Nonfarm noncorporate business (Tables F.103 and L.103) Internal Revenue Service Statistics of Income data for 1992; bank and finance company loans, mortgage borrowing, and consumer credit for 1994:Q3. Sfafisfics of Income data since 1992. 5. Nonfinancial corporate business (Tables F.104 and L.104) Quarterly Financial Report (QFR) of the Census Bureau through 1994:Q2. Internal Revenue Service Statistics of Income data for 1991; securities offerings, mortgages, bank loans, commercial paper, and other loans for 1994:Q3. Statistics of Income data since 1991. 6. State and local governments (Tables F.105 and L.105) Gross security offerings and retirements, deposits at banks, and nonmarketable U.S. government securities issues for 1994:Q3. Census of Government Finances data for asset items and debt outstanding through 1992:Q2. Other asset items since 1992:Q2. 7. U.S. government (Tables F.106 and L.106) Data on federal receipts and outlays from the Monthly Treasury Statement of Receipts and Outlays for 1994:Q3; data from the Federal Financing Bank statement for 1994:Q3. Data for loans outstanding since 1991 :Q4 except at the Federal Financing Bank. 8. Government-sponsored enterprises (Tables F.107 and L.107) Balance sheet data for FNMA, Federal Home Loan Banks, FHLMC, SLMA, FICO, REFCORR and FCA for 1994:Q3. None. 9. Federally related mortgage pools (Tables F.108 and L.108) All data for 1994:03. None. 10. Rest of the world (U.S. international transactions) (Tables F.109 and L.109) NIPA estimates, data from bank reports of condition, and Treasury International Capital System data for 1994:Q3. Balance of Payments data for 1994:02. Balance of Payments data for 1994:03. 11. Monetary authority (Tables F.110 and L.110) All data for 1994:03. None. 12. Commercial banking (Tables F.111 and L.111) All data for 1994:03 for domestically chartered and foreign-related banks. Data since 1992:04 for banks in U.S.-affiliated areas. Data for 1994:03 bank holding companies. 13. Funding corporations (Tables F.117 and L.117) Estimates for this sector are largely residual and derived from data for other sectors. 14. Savings institutions (Tables F.119 and L.119) All data for 1994:03. None. 15. Credit unions (Tables F.120 and L.120) All data for 1994:03. None. 16. Life insurance companies (Tables F.121 and L.121) Asset data through 1994:02 and liability data through 1993. Liability data since 1993 and asset data 1994:03. 17. Other insurance companies (Tables F.122 and L.122) All data through 1993. Data since 1993. 18. Private pension funds (including FERS) (Tables F.123 and L.123) All data for 1994:03. None. 19. State and local government retirement funds (Tables F.124 and L.124) Data through 1993:04. Data since 1993:04. 20. Finance companies (Tables F.125 and L.125) All data for 1994:03. None. 21. Mortgage companies (Tables F.126 and L.126) All data for 1994:02. Data for 1994:03. 22. Mutual funds (Tables F.127 and L.127) All data for 1994:03. None. 23. Closed-end funds (Tables F.128 and L.128) Data through 1993. Data since 1993. 24. Real estate investment trusts (Tables F.130 and L.130) Data through 1993:Q4. Data since 1993:Q4. 25. Security brokers and dealers (Tables F.131 and L.131) Data for firms filing FOCUS reports through 1994: Q3. Data for firms filing FOGS reports through 1994:Q2. Data from FOGS reports for 19S4:Q3. 26. Issuers of asset-backed securities (ABSs) (Tables F.132 and L.132) All data from Trepp/PSA Information Services and data for private mortgage pools, consumer credit and trade credit securitization for 1994:03. None. 27. Bank personal trusts and estates (Tables F.133 and L.133) Data through 1993. Data since 1993. TA- i i December 7, 1994 GROHTH OF NONFINANCIAL DEBT BY SECTOR (In percent) --------------------------------------------------- Domestic sectors--------------------------------------------- Households--------------- Business-------State & Foreign U.S. NonHome Consumer Long- Short- local and Total govt, federal Total mtgs. credit Total term term govts. Foreign domestic Memo: Private finan. assets Annual 1986 1987 1988 1989 1990 1991 1992 1993 12.3 9.4 8.9 7.8 6.3 4.4 4.8 5.4 13.6 8 0 8.0 7.0 11.0 11.1 10.9 8.3 11.9 9.8 9.2 8.1 5.0 2.4 2.8 4.3 12.0 11.4 10.5 9.2 6.5 4.7 5.8 7.1 14.3 14.9 12.7 10.8 7.9 6.5 6.7 6.4 9.6 5.0 7.2 6.2 2.0 -1.8 0.7 7.8 12.2 7.9 8.7 6.9 3.4 -1.0 -.1 0.6 13.9 9.4 8.4 5.5 2.3 2.9 0.2 1.5 9.7 5.4 9.4 9.1 5.2 -7.1 -.5 -1.0 9.8 12.1 6.0 9.3 5.7 7.4 1.8 7.1 4.1 2.6 2.6 4.0 9.1 4.9 7.1 15.1 12.0 9.2 8.7 7.7 6.4 4.5 4.9 5.6 7.3 8.1 8.6 5.8 4.7 -1.0 0.7 -.4 Quarterly (SAAR) 1992 I II III IV 5.5 4.5 4.9 3.9 11.9 12.1 10.0 8.0 3.4 1.9 3.2 2.5 6.3 3.1 6.8 6.3 8.7 3.3 8.3 5.8 -.6 -1.9 1.5 3.7 0.4 0.1 -.7 0.1 1.2 1.4 -1.1 -.7 -1.2 -2.2 0.1 1.4 3.9 3.7 3.7 -4.1 -1.3 19.0 10.1 1.2 5.4 4.8 5.1 3.9 4.1 0.4 -2.1 0.4 1993 I II III IV 4.1 6.2 5.1 5.6 7.8 10.7 5.4 8.4 2.8 4.6 5.0 4.5 4.2 6.5 9.0 8.0 4.1 6.7 8.0 6.1 2.5 5.1 9.3 13.3 -.3 0.7 0.6 1.3 2.4 0.4 2.2 1.0 -5.0 1.4 -2.1 1.8 9.2 11.9 4.8 1.7 12.5 13.3 25.1 6.5 4.3 6.4 5.6 5.6 -2.9 1.5 -2.2 1.9 1994 I II III 5.3 4.3 4.8 6.3 3.6 3.9 4.9 4.6 5.2 7.0 7.0 8.3 5.9 4.6 6.3 8.4 13.8 13.9 3.5 3.8 4.1 0.3 2.1 1.5 9.2 6.9 8.5 1.0 -2.8 -4.9 -18.5 -.6 -1.0 4.6 4.2 4.7 9.1 6.4 3.0 -T TA - I I December 7, 1994 BORROWING BY NONFINANCIAL SECTORS (Billions of dollars) ------------------------------------------------------ Domestic sectors-------------------------------------------- Households--------------- Business-------State & Foreign U.S. NonHome Consumer Long- Short- local and Total govt, federal Total mtgs. credit Total term term govts. Foreign domestic Memo: Private finan. assets Annual flows 1986 1987 1988 1989 1990 1991 1992 1993 854.3 733.0 762.8 729.0 635.6 475.8 536.1 628.1 216.0 143.9 155.1 146.4 246.9 278.2 304.0 256.1 638.3 589.1 607.7 582.7 388.7 197.5 232.1 372.0 268.1 285.4 291.4 281.6 218.9 170.9 217.7 284.5 196.5 234.2 227.9 217.6 179.0 159.2 174.4 178.2 57.5 32.9 50.1 45.8 16.0 -15.0 5.5 62.3 315.3 228.7 274.8 233.1 123.7 -35.9 -2.0 21.9 218.2 169.2 165.8 117.5 51.9 67.5 4.6 35.1 97.0 59.5 109.0 115.6 71.9 -103.4 -6.5 -13.2 54.9 75.1 41.5 68.0 46.0 62.6 16.4 65.7 9.7 6.2 6.4 10.2 23.9 13.9 21.3 46.9 864.0 739.2 769.2 739.2 659.4 489.6 557.4 675.0 334.2 395.7 457.6 336.2 290.0 -62.8 44.4 -25.9 Quarterly flows (SAAR) TTTA- I I 1992 — I II III IV 618.4 505.1 564.8 456.0 331.3 347.4 294.6 242.7 287.1 157.7 270.3 213.3 238.6 121.0 261.6 249.6 228.4 87.5 222.3 159.4 -4.6 -15.0 12.0 29.6 13.3 2.2 -25.4 1.9 28.9 32.6 -26.4 -16.9 -15.6 -30.4 1.0 18.8 35.2 34.5 34.1 -38.2 -3.8 55.0 30.6 3.6 614.6 560.1 595.4 459.6 263.1 28.7 -137.6 23.3 1993 — I II III IV 481.4 740.5 613.3 677.2 240.5 336.4 173.4 274.2 240.9 404.1 439.9 403.0 167.5 264.1 368.5 337.7 115.4 187.9 230.8 178.7 20.3 41.6 76.2 111.3 -11.6 26.7 24.1 48.2 55.5 8.6 52.0 24.3 -67.1 18.1 -27.9 24.0 85.0 113.2 47.3 17.1 38.9 42.8 83.1 22.9 520.3 783.3 696.4 700.2 -185.2 97.7 -140.2 124.1 1994 — I II III 651.2 543.4 612.3 210.6 122.9 134.1 440.6 420.5 478.1 299.4 303.6 370.5 174.3 138.9 193.5 72.7 121.9 127.1 131.4 144.7 156.4 7.6 49.3 37.1 123.8 95.4 119.3 9.9 -27.8 -48.8 -66.3 -1.9 -3.4 584.9 541.5 608.9 587.5 421.2 202.8 December 7, 1994 NONFINANCIAL DEBT OUTSTANDING BY SECTOR (Billions of dollars) ------------------------------------------------------- Domestic Sectors------------------------------------------ Households--------------- Business—- ---State & Foreign U.S. NonHome Consumer Long- Short- local and Total govt. federal Total mtgs. credit term term govts. Foreign domestic Total Memo: Private finan. assets Year-end outstandings 1986 1987 1988 1989 1990 1991 7817.3 8561.6 9312.6 10070.4 10712.6 11181.5 1805.9 194$,8 2104.9 2251.2 2498.1 2776.4 6011.4 6611.8 7207.7 7819.2 8214.5 8405.1 2504.5 2770.7 3073.6 3579.6 3614.3 3784.7 1573.7 1795.3 2023.1 2253.1 2455.0 2613.7 659.1 692.0 742.1 796.4 812.4 797.4 2889.0 3148.1 3399.5 3637.0 3751.7 3709.3 1790.6 1984.3 2122.7 2244.9 2287.7 2355.7 1098.5 1163.8 1276.8 1392.1 1463.9 1353.6 618.0 693.0 734.5 802.5 848.6 911.1 238.3 8055.6 245.0 8806.6 251.4 9563.9 261.2 10331.6 285.0 10997.6 298.8 11480.3 4909.9 5333.3 5814.6 6172.9 6462.4 6388.6 Quarterly outstandings (seasonally adjusted) ■XT I I 1992 — I II III IV 11339.2 11465.5 11606.7 11720.7 2859.2 2946.0 3019.7 3080.3 8480.0 8519.5 8587.0 8640.4 3844.3 3874.6 3939.9 4002.3 2670.8 2692.7 2748.2 2788.1 796.3 792.5 795.5 803.0 3715.8 3716.4 3710,0 3710.5 2362.9 2371.1 2364.5 2360.3 1352.8 1345.3 1345.5 1350.2 919.9 928.6 937.1 927.5 288.7 302.5 310.1 310.9 11628.0 11768.0 11916.8 12031.6 6454.4 6461.5 6427.1 6436.4 1993 — I II III IV 11855.3 12040.5 12193.8 12363.1 3140.5 3224.6 3267.9 3336.5 8714.8 8815.9 8925.8 9026.6 4049.4 4115.4 4207.5 4292.0 2820.8 2867.8 2925.4 2970.1 809.3 819.6 838.7 866.5 3716.7 3723.4 3729.4 3741.5 2377.3 2379.4 2392.4 2398.5 1339.4 1343.9 1337.0 1343.0 948.8 977.1 988.9 993.2 320.7 331.4 352.2 357.8 12176.1 12371.9 12546.0 12720.8 6411.2 6435.6 6400.5 6427.1 1994 — I II III 12525.8 12661.7 12814.7 3389.1 3419.9 3453.4 9136.7 9241.8 9361.4 4366.5 4442.4 4535.0 3013.7 3048.4 3096.8 884.7 915.2 946.9 3774.6 3810.8 3849.9 2400.1 2412.4 2421.7 1374.5 1398.4 1428.2 995.6 988.7 976.5 341.3 12867.1 340.8 13002.5 340.0 13154.7 6579.3 6684.6 6735.3 TABLE OF CONTENTS Levels Flows Title Table Page Table Page L.2 L.3 L.4 67 67 67 SUMMARIES Income and product distribution F.1 1 Funds raised in credit and equity markets: Credit market borrowing: Nonfinancial sectors Financial sectors All sectors, by transaction Funds raised through mutual funds and corporate equities F.2 F.3 F.4 3 3 3 F.5 3 Total claims: Total net borrowing and lending in credit markets Total liabilities and their relation to total financial assets F.6 5 L.6 69 F.7 5 L.7 69 Derivation of measures of personal saving F.8 7 L.8 71 Households and nonprofit organizations F.100 9 L.100 73 Nonfinancial business Farm Nonfarm: Noncorporate Corporate F.101 F.102 11 11 L.101 L.102 75 75 F.103 F.104 11 13 L.103 L.104 75 77 State and local government general funds F.105 15 L.105 79 U.S. government F.106 17 L.106 81 Government-sponsored enterprises F.107 17 L.107 81 Federally related mortgage pools F.108 17 L.108 81 Rest of the world F.109 19 L.109 83 Monetary authority F.110 21 L.110 85 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies Banks in U.S.-affiliated areas F.111 F.112 F.113 F.114 F.115 21 23 23 25 25 L.l 11 L.112 L.113 L.114 L.115 85 87 87 89 89 Private nonbank financial institutions Funding corporations Thrift institutions Savings institutions Credit unions Insurance companies and pension funds: Life insurance companies Other insurance companies F.116 F.117 F.118 F.119 F.120 27 27 29 29 29 L.116 L.117 L.118 L.119 L.120 91 91 93 93 93 F.121 F.122 31 31 L.121 L.122 95 95 SECTORS “X- Flows Title Private pension funds State and local government employee retirement funds Other financial institutions^ Finance companies Mortgage companies Mutual funds Closed-end funds Money market mutual funds Real estate investment trusts (REITs) Security brokers and dealers Issuers of asset-backed securities (ABSs) Bank personal trusts and estates Levels Table Paae F.123 F.124 31 31 L.123 L.124 95 95 F.125 F.126 F.127 F.128 F.129 F.130 F.131 F.132 F.133 33 33 33 33 33 35 35 35 35 L.125 L.126 L.127 L.128 L.129 L.130 L.131 L.132 L.133 97 97 97 97 97 99 99 99 99 Table Paae TRANSACTIONS Foreign exchange, Treasury currency, and insurance reserves: Gold and official foreign exchange holdings SDR certificates and Treasury currency F.200 F.201 37 37 L.200 L.201 101 101 Insurance and pension fund reserves F.202 37 L.202 101 Net interbank claims F.203 39 L.203 103 Deposits: Checkable deposits and currency Small time and savings deposits Large time deposits F.204 F.205 F.206 41 41 41 L.204 L.205 L.206 105 105 105 F.207 43 L.207 107 F.208 F.209 43 43 L.208 L.209 107 107 U.S. government securities: Treasury securities Agency securities F.210 F.211 45 45 L.210 L.211 109 109 Private securities: Tax-exempt debt securities and loans Corporate and foreign bonds Mutual fund shares Corporate equities F.212 F.213 F.214 F.215 47 47 47 47 L.212 L.213 L.214 L.215 111 111 111 111 Total mortgages Home mortgages Multifamily residential mortgages Commercial mortgages Farm mortgages F.216 F.217 F.218 F.219 F.220 49 49 51 51 51 L.216 L.217 L.218 L.219 L.220 113 113 115 115 115 Consumer credit and bank loans not elsewhere classified: Consumer credit Bank loans not elsewhere classified F.221 F.222 53 53 L.221 L.222 117 117 Other deposits, federal funds, and security RPs: Money market mutual fund shares Federal funds and security repurchase agreements U.S. deposits in foreign countries -xi- Levels Flows Table Page Table Page Open market paper and other loans: Open market paper Other loans F.223 F.224 55 55 L.223 L.224 119 119 Security credit, trade credit, and taxes payable: Security credit Trade credit Taxes payable by businesses Proprietors’ equity in noncorporate business Investment in bank personal trusts F.225 F.226 F.227 F.228 F.229 57 57 57 57 57 L.225 L.226 L.227 121 121 121 L.229 121 Total miscellaneous financial claims Identified miscellaneous financial claims Unidentified miscellaneous financial claims F.230 F.231 F.232 59 61 63 L.230 L.231 L.232 123 125 127 Discrepancies: Sectors Transactions F.9 F.10 65 65 L.IOO.a 130 Title SUPPLEMENTARY TABLES Nonprofit organizations F.IOO.a -xii- 129 DECEMBER 7, 1994 Income and Product Distribution Income and Product Distribution F.1 Income and Product Distribution 1 ANNUAL FLOWS ANNUAL FLOWS 1986 1987 1988 1989 1990 1991 4033.9 4268.7 4540.0 4900.4 5250.8 5546.1 5724.8 6020.2 6343.3 1 3439.8 2667.4 353.0 428.1 344.3 3683.6 2850.6 389.6 465.3 367.8 3933.8 3052.2 403.7 496.6 384.9 4214.8 3296.1 437.1 531.7 387.0 4498.3 3523.1 459.4 573.6 401.6 4808.6 3761.2 468.2 621.0 426.5 4999.9 3902.5 456.6 651.6 445.8 5262.2 4136.9 492.7 676.3 449.0 5526.6 4378.2 538.0 704.8 443.7 2 3 4 5 6 714.6 690.0 185.9 161.5 1.6 21.0 1.7 0.1 717.6 709.0 216.6 189.6 2.0 23,0 1.8 0.2 749.3 723.0 225.2 198.5 2.5 22.3 1.8 0.2 793.6 777.4 232.0 206.8 2.3 21.2 1.6 0.1 832.3 798.9 230.9 206.8 1.7 20.7 1.6 0.1 808.9 802.0 215.3 191.5 2.2 20.0 1.4 0.2 744.8 746.6 189.6 173.1 l.S 14.0 1.1 0.2 788.3 785.2 223.8 205.5 1.3 15,3 1.3 0.4 832.0 866.7 250.6 230.3 1.3 17.0 1.4 0.6 7 8 9 10 11 12 13 14 468.9 22.7 12.2 66.2 326.7 41.2 504.0 23.2 10.4 74.6 350.2 45.7 492.4 25.1 8.8 74.0 332.0 52.5 497.® 29.0 10.6 73.8 328.4 56.0 545.4 32.1 10.9 78.7 362.9 60.8 568.0 35.0 12.6 82.8 369.1 68.5 586.7 37.2 13.7 71.3 397.6 66.8 557.0 36.5 12.8 64.9 379.9 62.8 561.4 37.6 12.3 55.7 387.3 68.5 616.1 40.8 14.0 67.6 419.9 73.8 15 16 17 18 19 20 -5.6 -15.4 9.8 0.5 9.4 71.1 5.7 65.4 3.0 62.3 24.6 5.8 18.9 0.9 16.0 8.7 -1.4 10.1 O.S 9.6 26.3 -6.4 32.7 1.6 31.1 16.2 -11.3 27.5 1.3 26.2 33.3 1.5 31.8 1.6 30.2 6.9 3.1 3.8 0.2 3.6 -1.8 -.6 -1.2 -.1 -1.1 3.0 5.7 -2.7 -.1 -2.5 15.4 -4.7 20.1 1.0 19.1 21 22 23 24 25 -20.6 282.6 303.2 -51.4 276.7 328.1 -102.7 302.4 405.1 -115.6 302.1 417.6 -132.5 319.2 451.7 -143.1 364.0 507.1 -108.0 444.2 552.2 -79.7 508.0 587.7 -71.4 557.1 628.5 -19.9 601.1 621.0 -30.3 638.1 668.4 30.2 29 Memos Net U.S. factor income from rest of the world (1) 97.3 30 U.S. receipts 67.1 - U.S. payments 31 29.4 24.3 14.8 9.1 4.6 7.9 16.0 21.7 16.0 5.6 4.5 29 95,8 66.5 108.1 83.® 97.3 82.4 96.0 86.9 105.1 100.5 128.7 120.9 157.5 141.6 168.6 146.9 155.7 139.7 133,5 127.9 136.6 30 132.1 31 32 GNP=GDP+n@t U.S. factor income 3179.8 3434.5 3801,5 4053.6 4277.8 4544.6 4908.2 5266.7 5567.8 5740.8 6025.8 6347.8 32 33 Disposable personal income 34 Personal saving (NIPA) 35 Saving rate (percent, NIPA) 2319.6 199.5 8.6% 2493.7 168.6 6.7% 2759.5 222.0 8.0% 2945.0 189.3 6,4% 3131.5 187.5 5.9% 3289,5 142.0 4.3% 3548.2 155.7 4.3% 3787.0 152.1 4. OX 4050.6 170.0 4.1% 4236.6 211.5 4.9% 4505.8 247.9 5.5% 4683.7 33 192.5 34 4.1% 35 36 Federal government surplus 37 St. 8 local government surplus -135.5 26.9 -180,1 40.3 -166.8 58.1 -181.4 56.1 -201.1 54.4 -151.8 40.1 -136.6 38.4 -122.3 44.8 -163.6 25.0 -202.9 17.0 -282.7 24.8 -241.4 36 26.4 37 Corporate profits, taxes, and dividends: Profits (book) 176.3 210.7 -.1 -.2 Farm 30.4 27.8 Foreign subsidiaries 15.6 24.5 Finane ial 133.0 156.0 Domestic nonfinancial 240.5 tt 31.1 20.5 189.0 225.0 M 30.8 28.7 165.5 217.9 0.2 32.9 35.8 149.0 287.9 -.1 39.5 36.4 212.1 347.6 0.6 49.1 41.9 256.1 343.0 0.5 59.5 50.6 232.4 365.7 O.S 68.0 65.6 231.3 365.2 1.1 68.5 84.3 211.3 395.9 1.2 60.7 81.9 2S2.2 462.4 1.2 65.2 103.8 292.3 38 39 40 41 42 19S2 1983 1984 1 GDP 3149.6 3405.1 3777.2 2 Current purchases 3 Household sector 4 Of which consumer durables State and local governments 5 6 U.S. government 2666.S 2059.2 236.5 341.1 266.6 2909.9 2257.6 275.0 360.3 292.0 3161.0 2460.3 317.9 389.9 310.9 503.4 519.4 105.7 89.0 1.9 13.8 1.0 546.7 552.2 152.0 132.4 1.5 16,® 1.3 K 718.9 647.8 178.9 157.1 1.6 18.6 1.5 0.1 413.7 19.4 12.0 56.5 297.5 28.3 400.2 21.6 11.9 52.9 282.1 31.6 -16.0 5.8 -21.7 -1.0 -20.7 7 Gross domestic investment Private fixed Investment 8 Residential construction 9 10 Household sector Farm 11 Nonfar® noncorp. bus. 12 Nonfin. corporations 13 14 REITs 15 16 17 IS 19 20 21 22 23 24 25 Nonres. plant 3 equipment HH sector(nonprof.Inst.) Farm Nonfarm noncorp. bus. Nonfin. corporations Financial corporations Inventories Farm Nonfarm Noncorporate Corporate 26 Nat US exports of goodsSserv. 27 Exports 28 - Imports 38 39 40 41 42 M 1985 1992 1993 -65.3 26 659.1 27 724.3 28 43 44 45 46 Tax accruals Farm F inancial Domestic nonfinancial 63.1 0.1 16.8 46.2 77.2 0.1 17.8 59.3 94.1 0.3 20.4 73.4 96.5 0.2 26.6 69.7 106.5 0.4 31.0 75.2 127.1 0.4 33.6 93.1 137.0 0.4 35.3 101.3 141.3 0.5 41.9 99.1 138.6 0.5 44.6 93.4 131.1 0,4 48.0 82.7 139.7 0.4 51.9 87.4 173.3 0.5 56.5 116.3 43 44 45 46 47 48 49 50 51 Dividends Farm Financial Foreign subsidiaries Domestic nonfinancial 70.0 0.3 -2.5 16.1 56.2 81.2 0.3 3.1 11.6 66.2 82.7 0.3 1.7 11.4 69.2 92.4 0.4 6.9 ll.l 74.1 109.8 0.5 16.7 16.3 75.9 106.2 0.2 13.6 14.7 77.7 115.4 0.8 4.2 29.2 81.1 134.6 0.7 6.0 26.7 101.2 153.5 0.8 10.1 25.2 117.4 160.0 0.8 14.4 20.9 123.9 171.1 1.3 11.4 23.4 135.0 191.7 1.3 17.5 14.5 158.5 47 48 49 50 51 52 53 54 55 56 Undistributed profits (book) Farm Financial Foreign subsidiaries Domestic nonfinancial 43.2 -.4 1.3 11.3 30.6 52.3 -.5 3.6 18.8 30.5 63.8 -.6 -1.8 19.7 46.4 36.2 -.6 -4.7 19.8 21.7 1.6 -.7 -11.8 16.2 -2.1 54.6 -.7 -10.9 24.8 41.3 95.2 -.7 2.4 19.9 73.6 67.1 -.6 2.8 32.8 32.2 73.6 -.4 10.7 42.8 20.5 74.1 -.1 21.9 47.6 4.7 85. 1 -.5 18.6 37-3 29.8 97.5 -.6 29.8 50.8 17.5 52 53 54 55 56 57 58 59 60 Capital cons, adjustment Farm Financial Domestic nonfinancial -14.9 0.9 -3.4 -12.4 10.4 1.1 -2.1 11.4 27.8 1.2 -1.6 28.1 55.5 1.5 -.2 54.1 44.1 1.3 -.9 43.6 46.5 1.6 -.3 45.1 44.7 2.1 -.3 43.0 37.4 2.5 -2.5 37.4 25.9 2.5 -9.5 32.8 19.4 1.6 -11.7 29.4 15.7 1.3 -14.0 28.4 29.5 1.0 -14.1 42.6 57 56 59 60 61 Capital consumption (w/CCAdj) 62 Household sector res. 63 Household sector nonres. 64 Farm noncorporate Nonfarm noncorp. business 65 66 Total corporate 67 Farm Financial 68 Domestic nonfinancial 69 399.1 58.8 12.1 21.3 63.1 243.7 1.6 14.6 227.5 413.5 61.0 13.0 21.6 65.2 257.7 1.7 15.9 240.1 433.3 63.4 14.0 21.7 68.4 265.9 1.7 18.1 246.1 454.5 67.7 15.0 21.4 72.7 277.8 1.7 20.2 256.0 478.6 70.2 16.1 21.0 77.1 294.2 1.7 23.3 269.2 502.2 75.0 17.4 20.5 81.5 307.7 1.6 26.9 279.2 534.0 80.0 19.0 20.1 87.2 327.7 1.6 30.9 295.1 580.3 92.1 20.8 20.3 94.7 352.4 1.7 35.9 314.8 602.7 93.2 22.5 19.9 98.8 368.2 1.6 40.0 326.6 626.5 97.4 24.0 19.8 102.0 383.3 1.7 43.0 338.6 658.5 111.6 25.3 19.9 105.Q 396.8 2.0 45.4 349.3 669.1 107.1 26.9 19.3 107.3 407.9 2.2 48.1 357.6 61 62 63 64 65 66 67 68 69 Memo: Cap. cons, on consumer 70 durables not included above 71 Tot. cap. cons. incl. durables 214.1 613.1 224.4 642.8 236.1 669.4 257.1 711.6 278.2756.3 300.8 803.0 324.5 858.5 350.4 930.7 378.1 980.8 404.4 1030.9 430.1 1088.6 449.1 70 1118.1 71 -7.4 10.2 -9.2 -13.9 -24.8 -28.5 0.9 7.8 1.5 8.9 2.3 72 72 Statistical discrepancy 1.3 (1) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. BILLIONS OF DOLLARS DECEMBER 7, 1994 Income and Product Distribution Income and Product Distribution F.l Income and Product Distribution 2 SEASONALLY ADJUSTED ANNUAL RATES 1991 IV SEASONALLY ADJUSTED ANNUAL RATES 1992 I 1 I II III IV I 1 1993 II I III IV I 1 I 1994 II III 1 5796.7 5896.7 5971.3 6043.6 6169.2 6235.8 6300.0 6359.3 6478.2 6574.7 6689.7 6786.4 GDP 1 2 3 4 5 6 5053.7 3955.7 461.2 659.7 438.3 5158.9 4044.4 480.1 669.3 445.2 5214.6 4097.8 483.3 673.6 443.2 5286.0 4154.0 495.7 679.1 452.9 5389.4 4251.3 511.6 683.3 454.8 5431.7 4294.6 516.1 690.2 446.9 5493.7 4347.3 531.2 701.2 445.2 5554.1 4401.2 541.9 710.2 442.7 5626.8 4469.6 562.3 717.4 439.8 5694.8 4535.0 576.2 722.0 437.8 5753.0 4586.4 580.3 731.5 435.1 5846.8 Current purchases Household sector 4658.1 592.3 Of which consumer durables 744.3 State and local governments 444.4 U.S. government 2 3 4 5 6 7 8 9 10 11 12 13 14 756.8 742.4 198.7 182.4 1.1 14.0 1.1 0.2 747.7 754.0 209.8 192.8 1.1 14.5 1.2 0.2 787.9 784.0 222.0 204.3 1.2 15.2 1.2 0.1 795.4 790.2 224.4 206.5 1.3 15.1 1.3 0.2 822.0 812.7 239.1 218.7 1.3 16.5 1.4 1.2 853.7 833.7 243.9 224.3 1.3 16.6 1.4 0.3 869.7 851.1 241.8 222.3 1.2 16.7 1.4 0.2 882.2 868.3 249.3 228.3 1.2 17.3 1.4 1.0 922.5 913.5 267.2 246.1 1.4 17.3 1.4 1.0 966.6 942.5 277.1 255.6 1.6 17.8 1.5 0.6 1034.3 966.9 283.6 261.7 1.5 18.0 1.5 0.9 1054.1 Gross domestic investment Private fixed investment 992.5 Residential construction 282.9 Household sector 260.9 1.6 Farm Nonfarm noncorp. bus. 18.3 Nonfin. corporations 1.5 0.6 REITs 15 16 17 18 19 20 543.7 36.8 12.3 62.4 370.1 62. 1 544.2 37.1 13.1 52.3 376.3 65.5 562.0 37.1 11.8 56.8 391.2 65.2 565.8 37.6 11.6 57.2 392.3 67.2 573.6 38.7 12.6 56.7 389.3 76.4 589.8 39.7 13.2 64.2 402.8 69.8 609.3 40.8 14.2 66.1 417.6 70.6 619.0 41.3 14.1 67.5 419.3 76.7 646.3 41.4 14.3 72.7 439.7 78.2 665.4 43.2 16.4 78.0 452. 1 75.3 683.3 44.3 16.8 80.1 462.7 79.4 709.6 46.0 17.5 83.2 485.2 77.7 21 22 23 24 25 14.4 -2.3 16.7 0.8 15.9 -6.3 9.9 -16.2 -.8 -15.4 3.9 7.2 -3.3 -.2 -3.1 5.2 4.7 O.S 0.5 9.3 0.9 8.4 0.4 8.0 20.0 -1.6 21.6 1.1 20.5 18.6 -5.3 23.9 1.2 22.7 13.9 -10.3 24.2 1.2 23.0 9.0 -1.7 10.7 0.5 10.2 24.1 1.8 22.3 1.1 21.2 67.4 7.0 60.4 3.8 56.6 61.6 9.3 52.3 3.8 48.5 26 27 28 -13.8 623.7 637.5 -9.9 631.8 641.7 -31.2 632.7 663.9 -37.8 638.3 676.6 -42.2 649.2 691.4 -49.6 646.8 696.4 -63.4 660.1 723.5 -77.0 649.0 726.0 -71.1 680.3 751.4 -86.7 674.2 760.9 -97.6 704.5 802.1 X Nonres. plant & equioment HH sector(nonprof.inst.) Farm Nonfarm noncorp. bus. Non£in. corporations Financial corporations Inventories Farm Nonfarm Noncorporate Corporate -114.5 Net US exports of goodsSserv. 725.2 Exports 839.7 - Imports 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 14.1 11.0 7.8 5.9 -2.2 8.0 3.3 8.5 -2.0 -.7 -7.4 30 31 145.7 131.6 139.3 128.3 139.4 131.6 130.7 124.8 124.6 126.8 130.2 122.2 137.6 134.3 137.1 128.6 141.3 143.3 145.4 146.1 162.1 169.5 29 -10.7 Memo: Net U.S. factor income from rest of the world (1) U.S. receipts 174.2 30 - U.S. payments 184.9 31 32 5810.8 5907.7 5979.1 6049.5 6167.0 6243.8 6303.3 6367.8 6476.2 6574.0 5682.3 6775.7 GNP=GDP+net U.S. factor income 32 33 34 35 4303.0 224.6 5.27. 4401.1 234.7 5.37. 4463.2 243.7 5.47. 4500.0 225.3 5.07 4658.8 287.4 6. IX 4598.1 184.4 4. OX 4678.6 214.0 4.5X 4700.5 182.2 3.37. 4777.6 139.5 3.97. 4832.7 175.5 3.6X 4913.5 201.1 4. OX 4986.5 Disposable personal income 198.4 Personal saving (NIPA) 3.9X Saving rate (percent, NIPA) 36 37 -245.9 25.1 -279.9 20.0 -284.7 25.8 -293.9 20.4 -272.2 33.1 -283.3 21.7 -237.1 25.4 -224.9 23.9 -220.1 34.5 -176.2 25.3 -145.0 27.1 36 -155.3 Federal government surplus 24.2 St. S local government surplus 37 38 39 40 41 42 373.1 1.0 70.9 84.6 216.6 397.0 1.2 63.6 100.8 231.4 413.6 1.2 63.7 91.3 257.4 359.5 1.2 60.7 48.7 248.9 413.4 1.3 54.6 86.6 270.9 432.7 1.1 67.4 96.1 268.1 456.6 1.2 62.8 100.2 292.4 458.7 1.2 69.0 104.0 284.5 501.7 1.3 61.7 114.7 324.0 483.4 1.3 61.0 89.6 331.5 Corporate profits, taxes, and dividends: 539.2 Profits (book) 523.1 1.4 1.4 F arm Foreign subsidiaries 60.7 61.3 106.6 111.7 F inane ial 364.8 Domestic nonfinancial 354.4 43 44 45 46 133.1 0.4 47.7 85. 0 139.6 0.4 60.3 78.9 146.0 0.5 55.7 89.8 124.6 0.5 38.1 86.0 148.6 0.5 53.4 94.7 159.3 0.4 53.6 105.8 171.8 0.4 55.1 116.3 169.9 0.4 56.4 113.1 191.5 0.5 60.7 130.3 184.1 0.5 51.6 132.0 201.7 0.5 58.3 142.9 208.7 0.5 60.9 147.3 Tax accruals Farm Financial Domestic nonfinancial 43 44 45 46 47 48 49 50 51 160.9 0.9 13.9 20.1 126.0 161.0 1.1 9.5 26.5 123.9 166.8 1.3 11.4 23.9 130.2 174.4 1.4 10.8 26.0 136.2 182.1 1.3 14.0 17.0 149.8 188.2 1.3 17.8 9.8 159.3 190.7 1.3 16.5 17.5 155.4 193.2 1.3 17.7 16.1 153.1 194.6 1.3 17.9 14.4 161.0 196.3 1.4 17.5 19.3 158.1 202.5 1.4 19.3 18.9 162.9 207.9 1.4 19.8 28.8 157.9 Dividends Farm Financial Foreign subsidiaries Domestic nonfinancial 47 48 49 50 51 52 53 54 55 56 79.1 -.3 23.0 50.8 5.6 96.4 -.4 31.0 37.1 28.7 100.8 -.5 24.2 39.8 37.3 60.5 -.7 -.2 34.7 26.7 82.7 -.5 19.2 37.6 26.4 84.7 -.7 24.7 57.6 3.1 94.1 -.5 28.6 45.3 20.7 95.6 -.6 29.9 52.9 13.4 115.6 -.5 36.1 47.3 32.7 103.0 -.5 20.5 41.7 41.3 118.9 -.5 29.0 41.3 48.6 122.6 -.5 31.0 32.5 59.6 Undistributed profits (book) Farm Financial Foreign subsidiaries Domestic nonfinancial 52 53 54 55 56 57 58 59 60 22.4 1.5 -12.0 32.9 19.0 1.4 -13.1 30.7 15.8 1.3 -13.9 28.4 10.9 1.2 -14.5 24.2 16.9 1.2 -14.6 30.3 21.0 1.1 -14.4 34.3 26.5 1.1 -14.2 39.6 31.7 1.0 -14.0 44.7 38.8 0.9 -13.9 51.3 37.0 0.9 -14.7 50.8 37.4 0.8 -15.5 52.1 37.5 0.7 -16.0 52.8 Capital cons, adjustment Farm Financial Domestic nonfinancial 57 58 59 60 61 62 63 64 65 66 67 68 69 635.4 98.8 24.3 19.8 106.4 386.1 1.8 43.7 340.6 632.9 105.2 24.3 19.9 94.9 388.6 1.9 44.9 341.8 637.5 106.2 24.5 20.0 95.5 391.3 2.0 45.4 344.0 715.3 133.4 27.4 20.0 124.1 410.4 2.0 45.9 362.5 648.4 101.5 24.9 19.7 105.5 396.8 2.1 45.6 349.1 662.9 100.8 26.7 19.5 113.7 402.3 2.1 47.6 352.6 662.0 100.6 26.6 19.2 110.3 404.8 2.2 47.5 355.1 677.3 124.6 27.2 19.2 93.0 413.3 2.2 48.7 362.4 674.0 102.5 27.1 19.4 113.8 411.1 2.2 48.5 360.4 734.1 127.5 30.6 19.6 124.2 432.2 2.2 48.7 381.3 698.1 106.7 29.1 19.3 116.7 425.9 2.2 51.7 372.0 709.8 Capital consumption (w/CCAdj) Housenold sector res. 108.5 Household sector nonres. 29.6 Farm noncorporate 20.0 Nonfarm noncorp. business 119.1 Total corporate 432.6 Farm 2.2 Financial 52.6 Domestic nonfinancial 377.9 70 71 410.1 1045.5 424.5 1057.4 428.5 1066.0 439.7 1155.0 427.7 1076.1 445.0 1107.9 444.4 1106.4 454.6 1131.9 452.4 1126.4 504.3 1238.4 479.6 1177.7 72 -1.9 2.0 11.5 3.9 18.1 25.2 5.9 -5.4 -16.5 -36.2 -24.3 38 39 40 41 42 61 62 63 64 65 66 67 68 69 Memo: Cap. cons, on consumer 70 durables not included above 487.7 1197.5 Tot. cap. cons. incl. durables 71 -21.7 Statistical discrepancy (1) Consists of net receipts from foreigners of interest, coroorate profits, and employee compensation. BILLIONS OF DOLLARS 33 34 35 72 DECEMBER 7, 1994 Funds Raised Funds Raised F.2-F.5 Funds Raised in Credit and Equity Markets 3 ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 F.2 Credit Market Borrowing by Nonfinancial Sectors 420.8 562.2 767.8 937.6 854.3 733.0 762.8 729.0 635.6 475.8 536.1 628.1 1 U.S. government Treasury securities Budget agency secur.Smtgs. 161.3 162.2 -.9 185.2 185.3 -.1 197.2 197.4 -.2 225.7 225.8 -.1 216.0 215.6 0.4 143.9 142.4 1.5 155.1 137.7 17.4 146.4 144.7 1.6 246.9 238.7 8.2 278.2 292.0 -13.8 304.0 303.8 0.2 256.1 248.3 7.8 2 3 4 Private, by transaction Tax-exempt securities Corporate bonds Mortgages Home Multifamily Commercial Farm 259.5 53.1 30.7 92.8 56.5 5.5 26.7 4.1 377.0 54.4 26.0 187.7 117.6 15.3 52.5 2.4 570.6 58.7 48.1 222.4 136.2 25.1 62.3 -1.2 712.0 179.5 83.2 261.7 172.3 30.3 65.6 -6.6 638.3 41.4 127.1 305.6 204.2 36.4 75.1 -10.1 589.1 75.5 78.8 335.7 241.6 24.9 76.2 -6.9 607.7 46.3 103.1 299.9 234.9 17.5 52.2 -4.8 582.7 69.8 73.8 281.2 224.5 11.5 47.8 -2.5 388.7 48.7 47.1 199.S 185.6 4.8 9.3 -.3 197.5 68.7 78.8 161.4 163.8 -3.1 0.4 0.4 232.1 31.1 67.5 123.9 179.5 -11.2 -45.5 1.1 372.0 5 78.1 6 75.2 7 155.6 8 183.9 9 -6.1 10 -22.5 11 0.5 12 16.4 52.8 -6.1 20.0 48.9 22.3 -.8 38.6 81.7 64.0 21.7 74.0 82.3 43.8 14.6 47.0 57.5 58.9 -9.3 57.1 32.9 14.7 1.6 49.9 50.1 38.2 11.9 58.2 45.8 27.3 21.4 63.3 16.0 0.4 9.7 67.4 -15.0 -40.9 -18.4 -37.1 5.5 -13.8 8.6 9.2 62.3 5.0 10.0 -14.3 13 14 15 16 259.5 83.2 146.0 6.7 71.2 68.1 30.4 377.0 185.3 157.1 3.9 72.2 81.0 34.6 570.6 225.7 309.1 -. 4 111.6 197.9 35.7 712.0 299.1 278.0 -14.5 123.3 169.2 134.9 638.3 268.1 315.3 -16.9 99.1 233.0 54.9 589.1 285.4 223.7 -ll.l 75.0 164.8 75.1 607.7 291.4 274.8 -10.2 60.4 224.5 41.5 582.7 281.6 233.1 0.6 40.3 192.1 68.0 388.7 218.9 123.7 2.3 10.1 111.3 46.0 197.5 170.9 -35.9 2.1 -23.5 -9.6 62.6 232.1 217.7 -2.0 1.0 -43.9 40.9 16.4 372.0 284.5 21.9 2.0 -26.0 45.8 65.7 17 18 19 20 21 22 23 16.0 6.6 -5.5 1.9 13.0 17.3 3.1 3.6 6.5 4.1 8.4 3.8 -6.6 6.2 5.0 1.2 3.3 -2.8 6.2 -6.0 9.7 3.1 -1.0 11.5 -3.9 6.2 7.4 -3.6 3.8 -1.4 6.4 6.9 -1.8 8.7 -7.5 10.2 4.9 -.1 13.1 -7.6 23.9 21.4 -2.9 12.3 -7.0 13.9 14.1 3.1 6.4 -9.8 21.3 14.4 2.3 5.2 -.6 46.9 59.4 0.7 -9.0 -4.2 24 25 26 27 28 436.8 579.5 776.1 938.3 864.0 739.2 769.2 739.2 659.4 489.6 557.4 675.0 29 1 Domestic 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Consumer credit Bank loans n.e.c. Commercial paper Other loans Private, by sector Household sector Nonfinancial business Farm Nonfarm noncorporate Corporate State and Local govts. 24 Fgn. borrowing in U.S. 25 Bonds 26 Bank loans n.e.c. 27 Commercial paper 28 U.S. govt, and other loans 29 Domestic and foreign F. 3 Credit Market Borrowing by Financial Sectors 93.0 102.0 157.0 204.1 327.0 293.7 249.5 225.1 202.9 152.6 237.1 286.1 1 U.S. government-related GSE securities Mortgage pool securities Loans from U.S. government 64.9 14.9 49.5 0.4 67.8 1.4 66.4 - 74.9 30.4 44.4 - 101.5 20.6 79.9 1.1 173.1 15.2 163.3 -.4 171.8 30.2 142.3 -.8 119.8 44.9 74.9 - 149.5 25.2 124.3 - 167.4 17.1 150.3 -.1 145.7 9.2 136.6 155.8 40.3 115.6 161.2 80.6 80.6 - 2 3 4 5 Private financial sectors Corporate bonds Mortgages Bank loans n.e.c. Open market paper Fed. Home Loan Bank loans 28.1 14.8 0.1 2.5 9.9 0.3 34.2 17.4 2.5 21.3 -7.0 82.2 36.3 0.4 5.7 24.0 15.7 102.5 56.5 0.1 -.2 32.0 14.2 148.9 92.3 0.3 12.3 24.2 19.8 121.9 78.6 0.3 -8.3 26.9 24.4 129.7 52.2 0.3 2.7 54.8 19.7 75.7 41.5 0.3 13.5 31.3 -11.0 35.5 46.3 0.6 4.7 8.6 -24.7 6.8 67.6 0.5 8.8 -32.0 -38.0 81.3 78.5 0.6 2.2 -.7 0.3 125.0 6 118.3 7 3.6 8 -14.0 9 -6.2 10 23.3 11 12 By sector 93.0 102.0 157.0 204.1 327.0 293.7 249.5 225.1 202.9 152.6 237.1 286.1 12 13 14 Govt.-spons. enterprises Fed. related mortgage pools 15.3 49.5 1.4 66.4 30.4 44.4 21.7 79.9 14.9 163.3 29.5 142.3 44.9 74.9 25.2 124.3 17.0 150.3 9.1 136.6 40.2 115.6 80.6 13 80.6 14 15 16 17 18 19 20 21 22 23 24 25 26 Private financial sectors Commercial banks Bank holding companies Funding corporations Savings institutions Credit unions Life insurance companies Finance companies Mortgage companies REITs Brokers and dealers ABS issuers 28.1 11.7 7.1 3.4 1.1 3.3 1.6 34.2 5.0 13.3 3.2 -6.6 14.9 0.6 -.3 0.4 3.7 82.2 7.3 16.1 1.2 20.1 23.9 1.5 0.8 0.7 10.7 102.5 -4.9 16.6 10.7 20.7 40.7 1.2 1.2 0.3 16.0 148.9 -3.6 10.7 12.0 24.1 51.5 9.0 1.2 2.1 42.0 121.9 6.2 14.3 9.7 28.3 23.2 -11.2 1.7 -.1 49.9 129.7 -3.0 5.2 38.0 21.7 23.9 75.7 -1.4 6.2 12.5 -15.1 27.4 10.1 1.4 6.3 28.3 35.5 -.7 -27.7 15.4 -30.2 24.0 w 0.8 1.5 52.3 6.8 -11.7 -2.5 -6.5 -44.5 18.6 -2.4 1.2 3.7 51.0 81.3 8.8 2.3 13.2 -6.7 I By transaction 2 3 4 5 6 7 8 9 10 11 X - X X 2.0 4.3 37.6 X X -3.6 8.0 0.3 2.7 56.3 125.0 5.6 8.8 2.9 11.1 0.2 0.2 0.2 -1 . 0 3.5 12.0 81.5 15 16 17 18 19 20 21 22 23 24 25 26 X X F.4 Credit Market Borrowing, All Sectors, by Transaction 1 Total 2 U.S. government securities 3 Tax-exempt securities 4 Corporate and foreign bonds 5 Mortgages 6 7 8 9 Consumer credit Bank loans n.e.c. Open market paper Other loans 529.8 225.9 53.1 52.1 92.7 631.5 253.1 54.4 46.5 187.7 933.2 272.2 58.7 88.2 222.7 1142.9 326.2 179.5 143.4 261.7 1191.0 394.5 41.4 222.5 305.8 1032.9 316.4 75.5 164.7 336.0 1018.7 274.9 46.3 162.2 300.2 964.4 295.8 69.8 120.2 281.6 862.3 414.4 48.7 114.7 200.1 642.2 424.0 68.7 160.5 161.9 794.5 459.8 31.1 160.4 124.5 961.2 417.3 78.1 252.9 159.2 1 2 3 4 5 16.4 49.3 5.7 34.2 48.9 28.4 26.9 35.7 81.7 63.1 51.9 94.7 82.3 40.7 52.8 56.3 57.5 70.2 26.4 72.7 32.9 2.8 32.3 72.2 50.1 39.1 75.4 70.5 45.8 40.7 65.9 44.7 16.0 2.2 30.7 35.6 -15.0 -29.1 -44.0 -84.9 5.5 -9.4 13. 1 9.5 62.3 -8.3 -5.1 4.7 6 7 8 9 F.5 Funds Raised Through Mutual Funds and Corporate Equities 1 Total net issues 2 Mutual funds 3 Corporate equities 4 Nonfinancial 5 Financial Foreign shares purchased 6 by U.S. residents BILLIONS OF DOLLARS 17.0 9.4 7.6 1.9 4.3 56.0 29.3 26.7 20.0 3.0 -45.3 27.3 -72.6 -79.0 5.5 23.7 88.7 -65.0 -84.5 15.8 95.0 160.9 -65.9 -85.0 18.0 13.0 70.2 -57.2 -75.5 20.4 -96.7 6.1 -102.8 -129.5 25.8 -69.8 37.2 -98.0 -124.2 9.0 19.7 65.3 -45.6 -63.0 10.0 215.4 151.5 64.0 18.3 15.1 296.0 211.9 84.1 27.0 26.4 436.9 316.3 120.1 21.3 38.2 1 2 3 4 5 1.4 3.7 0.9 3.7 1.2 -2.1 0.9 17.2 7.4 30.7 30.7 60.6 6 DECEMBER 7, 1994 Funds Raised Funds Raised F.2-F.5 Funds Raised in Credit and Equity Markets 4 SEASONALLY ADJUSTED ANNUAL RATES 1991 IV | 1 SEASONALLY ADJUSTED ANNUAL RATES 1992 I III II IV 1 1 1993 I II III IV 1 1 1994 II I III F.2 Credit Market Borrowing by Nonfinancial Sectors 1 454.2 618.4 505.1 564.8 456.0 481.4 740.5 613.3 677.2 651.2 543.4 612.3 Domestic 1 2 3 4 275.3 271.5 3.8 331.3 342.4 -11.2 347.4 347.0 0.4 294.6 285.5 9.0 242.7 240.0 2.7 240.5 237.4 3.2 336.4 332.3 4.1 173.4 157.2 16.3 274.2 266.5 7.7 210.6 211.8 -1.3 122.9 118.2 4.7 134.1 129.8 4.4 U.S. government Treasury securities Budget agency secur.&mtgs. 2 3 4 5 6 7 8 9 10 11 12 178.9 81.8 60.2 180.6 206.5 1.8 -28.5 0.9 287.1 42.5 76.5 195.9 233.2 10.2 -46.9 -.6 157.7 52.1 77.8 52.5 92.6 -16.9 -25.9 2.7 270.3 45.6 61.7 160.7 227.4 -11.5 -58.0 2.8 213.3 -15.8 54.0 86.6 164.9 -26.5 -51.4 -.5 240.9 88.7 85.7 99.8 120.9 -5.5 -15.7 0.2 404.1 130.3 75.7 152.2 193.5 -11.4 -30.9 1.0 439.9 66.2 72.0 222.1 236.5 -4.9 -9.9 0.4 403.0 27.4 67.4 148.5 184.5 -2.6 -33.6 0.2 440.6 22.6 35.1 151.5 180.2 -6.1 -23.4 0.8 420.5 -9.8 38.9 162.2 144.9 4.3 7.1 6.0 478.1 -41.2 24.6 219.4 199.6 7.1 8.9 3.7 Private, by transaction Tax-exempt securities Corporate bonds Mortgages Home Multifamily Commercial Farm 13 14 15 16 -10.3 -71.9 -7.5 -54.0 -4.6 -30.8 10.3 -2.7 -15.0 -20.5 -2.0 12.8 12.0 -23.0 4.0 9.3 29.6 19.1 22.3 17.5 20.3 -16.2 -14.1 -23.3 41.6 -.2 33.2 -28.6 76.2 7.8 17.2 -21.7 111.3 28.5 3.8 16.2 72.7 74.2 8.0 76.5 121.9 73.0 16.4 17.8 127.1 93.5 33.3 20.9 17 18 19 20 21 22 23 178.9 218.1 -118.5 -.4 -53.2 -64.9 79.2 287.1 238.6 13.3 -.2 -22.1 35.6 35.2 157.7 121.0 2.2 5.1 -45.3 42.4 34.5 270.3 261.6 -25.4 1.6 -54.3 27.4 34.1 213.3 249.6 1.9 -2.4 -53.9 58.2 -38.2 240.9 167.5 -11.6 -2.3 -28.6 19.3 85.0 404.1 264.1 26.7 2.7 -33.4 57.4 113.2 439.9 368.5 24.1 4.1 -26.2 46.3 47.3 403.0 337.7 48.2 3.6 -15.6 60.2 17.1 440.6 299.4 131.4 3.1 8.4 119.9 9.9 420.5 303.6 144.7 11.8 16.5 116.4 -27.8 478.1 370.5 156.4 3.6 26.9 125.9 -48.8 24 25 26 27 28 34.8 18.5 6.5 14.9 -5.1 -3.8 1.0 1.5 -8.0 1.8 55.0 18.7 14.1 27.8 -5.6 30.6 12.1 3.9 13.1 1.4 3.6 26.0 -10.3 -12.1 38.9 66.5 1.5 -21.7 -7.5 42.8 45.3 6.6 -.6 -8.4 83.1 84.5 1.0 -1.6 -.8 22.9 41.4 -6.3 -12.0 -.1 -66.3 29.0 6.0 -101.8 0.5 -1.9 11.1 -.8 -5.2 -7.0 29 489.0 614.6 560.1 595.4 459.6 520.3 783.3 696.4 700.2 584.9 541.5 608.9 Domestic and foreign X Consumer credit Bank loans n.e.c. Commercial paper Other loans Private, by sector Household sector Nonfinancial business Farm Nonfarm noncorporate Corporate State and local govts. -3.4 Fgn. borrowing in U.S. 6.6 Bonds 0.9 Bank loans n.e.c. -8.1 Commercial paper -2.7 U.S. govt, and other loans 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 F.3 Credit Market Borrowing by Financial Sectors 1 236.5 191.9 251.7 306.1 198.3 180.4 175.5 438.9 349.8 477.0 294.9 345.6 By transaction 1 2 3 4 5 151.4 32.6 118.9 -.1 130.4 11.5 118.9 - 188.2 48.3 139.9 171.9 67.7 104.3 - 132.6 33.6 99.2 -.1 169.4 32.2 137.2 56.6 68.8 -12.2 - 287.3 167.8 119.5 - 131.3 53.4 77.9 - 320.8 160.0 180.0 -19.2 245.2 1*6.6 98.6 - 224.9 152.1 72.8 - U.S. government-related GSE securities Mortgage pool securities Loans from U.S. government 2 3 4 5 6 7 8 9 10 11 85.0 90.2 0.9 23.4 -9.9 -19.5 61.5 51.8 0.9 20.4 -.5 -11.2 63.5 80.5 0.1 -5.7 -13.8 2.3 134.1 84.5 0.4 18.0 18.0 13.2 66.1 97.0 0.9 -24.1 -6.5 -1.1 11.0 99.0 1.4 -34.6 -75.1 20.4 118.9 92.4 1.4 12.8 -16.2 28.4 151.6 143.4 6.2 -16.1 -9.4 27.4 218.5 138.3 5.5 -18.0 76.0 16.8 156.2 148.6 0.2 -18.3 36.6 -10.8 49.7 59.9 0.6 -45.1 2.1 32.3 120.7 65.3 0.1 -17.6 42.1 30.7 Private financial sectors Corporate bonds Mortgages Bank loans n.e.c. Open market paper Fed. Home Loan Bank loans 6 7 8 9 10 11 12 236.5 191.9 251.7 306.1 198.8 180.4 175.5 438.9 349.8 477.0 294.9 345.6 By sector 13 14 32.5 113.9 11.5 118.9 48.3 139.9 67.7 104.3 33.5 99.2 32.2 137.2 68.8 -12.2 167.8 119.5 53.4 77.9 140.8 180.0 146.6 98.6 152.1 72.8 Govt.-spons. enterprises Fed. related mortgage pools 13 14 15 16 17 18 19 20 21 22 23 24 25 26 85.0 -9.5 7.0 13.9 -24.9 20.5 22.2 2.9 3.2 49.8 61.5 1.7 10.9 18.8 -19.1 - 63.5 6.5 -9.2 16.3 -8.8 * -3.5 -3.3 1.3 13.5 50.7 134.1 12.6 6.6 14.0 6.3 66.1 14.5 0.8 3.6 -5.4 0.1 -.2 1.0 -6.4 -5.6 -4.0 67.7 11.0 3.5 21.1 -31.4 9.7 113.9 11.3 1.3 -1.6 12.6 0.3 0.6 -13.6 32.4 1.3 13.7 60.5 151.6 6.5 0.5 7.9 13.5 0.3 -.1 17.5 -.8 6.0 14.6 85.8 218.5 1,2 12.2 36.7 8.8 0.1 0.4 16.3 -10.4 6.2 29.3 117.6 156.2 2.0 3.5 47.4 -5.6 0.1 49.7 12.4 8.2 -17.1 5.8 0.2 120.7 22.3 11.7 47.0 14.3 0.5 Private financial sectors Commercial banks 3ank holding companies Funding coroorations Savings institutions Credit unions Life insurance companies Finance companies Mortgage companies REITs Brokers and dealers ABS issuers 15 16 17 18 19 20 21 22 23 24 25 26 X -27.3 27.5 3.2 2.9 42.9 X 0.2 15.2 14.4 2.3 -1.6 64.0 X 0.1 -19.6 -25.2 0.4 -9.5 62.0 x 63.3 -27.6 1.2 -9.9 81.8 X X 67.0 -33.2 2.2 0.3 4.0 16.9 -10.0 2.3 -7.6 22.3 12 F..4 Credit Market Borrowing, All Sectors, by Transaction 1 2 3 4 5 725.5 426.9 81.8 168.9 181.5 806.5 461.7 42.5 129.2 196.7 811.8 535.6 52.1 177.0 52.6 901.5 466.5 45.6 158.3 161.2 658.4 375.5 -15.8 177.0 87.4 700.7 409.9 88.7 251.2 101.2 958.8 393.0 130.3 213.4 153.5 1135.3 460.7 66.2 299.9 223.3 1050.0 405.5 27.4 247.1 154.0 1061.9 550.5 22.6 212.6 151.3 336.4 368.1 -9.8 109.8 162.7 954.5 Total 359.0 U.S. government securities -41.2 Tax-exempt securities 96.5 Corporate and foreign bonds 219.6 Mortgages 1 2 3 4 5 6 7 8 9 -10.3 -42.1 -2.5 -78.7 -4.6 -8.9 1.8 -12.0 -15.0 -12.0 11.9 9.6 12.0 -1.1 35.1 23.9 29.6 - 15.3 3.7 16.3 20.3 -49.2 -110.9 -10.4 41.6 19.2 16.4 -8.7 76.2 -7.3 6.3 4.9 111.3 4.2 67.7 32.9 72.7 61.9 -57.2 47.0 121.9 27.1 13.3 43.1 127.1 76.8 67.8 49.0 6 7 8 9 117.4 Total net issues 131.2 Mutual funds -13.8 Corporate equities -50.0 Nonfinancial 21.6 Financial Foreign shares purchased 14.6 by U.S. residents Consumer credit Bank loans n.e.c. Open market paper Other loans F.5 Funds Raised Through Mutual Funds and Corporate Equities 1 2 3 4 5 282.0 192.7 89.3 48.0 17.6 301.5 198.3 103.2 46.0 28.1 274.5 200.4 74.0 36.0 26.9 313.2 243.4 69.7 12.0 22.9 294.8 205.4 89.4 14.0 27.7 343.9 268.9 75.0 8.2 35.2 471.9 358.0 113.9 23.2 38.6 498.0 348.9 149.1 32.3 38.2 434.0 291.5 142.4 21.5 40.9 214.5 114.0 100.5 -9.6 40.7 213.6 152.7 55.8 -2.0 29.0 6 23.7 29.1 11.1 34.8 47.3 31.6 52.1 78.6 80.0 69.4 38.9 BILLIONS OF DOLLARS. 1 2 3 4 5 6 -EMBER 7, 1> otal Claims Total Claims F.6-F.7 Total Claims 5 ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1989 1991 1990 1992 1993 F.6 Total Net Borrowing and Lending in Credit Markets (1) 529.8 681.5 933.2 1142.9 1191.0 1032.9 1018.7 964.4 862.3 642.2 794.5 961.2 1 2 3 4 5 6 7 8 9 Domestic nonfinan. sectors U.S. government Private domestic Household sector Farm business Nonfarm noncorp. bus. Nonfin. corporate bus. State and local govts. 420.8 161.3 259.5 83.2 6.7 71.2 68.1 30.4 562.2 185.2 377.0 185.3 3.9 72.2 81.0 34.6 767.8 197.2 570.6 225.7 -.4 111.6 197.9 35.7 937.6 225.7 712.0 299.1 -14.5 123.3 169.2 134.9 854.3 216.0 638.3 268.1 -16.9 99.1 233.0 54.9 733.0 143.9 589.1 285.4 -11.1 75.0 164.8 75.1 762.8 155.1 607.7 291.4 -10.2 60.4 224.5 41.5 729.0 146.4 582.7 281.6 0.6 40.3 192.1 68.0 635.6 246.9 388.7 218.9 2.3 10.1 111.3 46.0 475.8 278.2 197.5 170.9 2.1 -28.5 -9.6 62.6 536.1 304.0 232.1 217.7 1.0 -43.9 40.9 16.4 628.1 256.1 372.0 284.5 2.0 -26.0 45.8 65.7 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Rest of the world Financial sectors Govt.-spons. enterprises Fed. related mtg. pools Commercial banks Bank holding companies Funding corporations Thrift institutions Life insurance companies Finance companies Mortgage companies REITs Brokers and dealers ABS issuers 16.0 93.0 15.3 49.5 11.7 7.1 3.4 1.1 3.3 1.6 * - 17.3 102.0 1.4 66.4 5.0 13.3 3.2 -6.6 14.9 0.6 -.3 0.4 3.7 8.4 157.0 30.4 44.4 7.3 16.1 1.2 20.1 23.9 1.5 0.8 0.7 10.7 1.2 204.1 21.7 79.9 -4.9 16.6 10.7 20.7 40.7 1.2 1.2 0.3 16.0 9.7 327.0 14.9 163.3 -3.6 10.7 12.0 24.1 51.5 9.0 1.2 2.1 42.0 6.2 293.7 29.5 142.3 6.2 14.3 9.7 28.3 23.2 -11.2 1.7 -.1 49.9 6.4 249.5 44.9 74.9 -3.0 5.2 38.0 21.7 23.9 23.9 202.9 17.0 150.3 -.7 -27.7 15.4 -30.2 24.0 0.8 1.5 52.3 13.9 152.6 9.1 136.6 -11.7 -2.5 -6.5 -44.5 18.6 -2.4 1.2 3.7 51.0 21.3 237.1 40.2 115.6 8.8 2.3 13.2 -6.7 2.0 4.3 37.6 10.2 225.1 25.2 124.3 -1.4 6.2 12.5 -15.1 27.4 10.1 1.4 6.3 28.3 46.9 286.1 80.6 80.6 5.6 8.8 2.9 11.3 0.2 0.2 -1.0 3.5 12.0 81.5 10 11 12 13 14 15 16 17 18 19 20 21 22 23 529.8 681.5 933.2 1142.9 1191.0 1032.9 1018.7 964.4 862.3 642.2 794.5 961.2 24 90.3 41.6 4.5 20.7 23.5 15.9 154.2 93.3 7.1 17.9 35.8 9.7 139.9 94.6 9.5 10.5 25.4 17.1 295.3 161.5 4.9 4.3 124.5 17.8 41.7 -28.1 3.9 20.3 45.5 9.7 222.0 176.2 -6.0 18.9 33.0 -7.9 224.3 196.7 2.7 6.0 19.3 -10.6 137.3 94.7 -.8 13.7 29.3 -3.1 190.1 157.2 -1.7 -3.7 38.3 33.7 -7.5 -39.6 -3.7 6.7 29.2 10.5 72.0 70.7 -l.l 29.2 -26.8 -11.9 6.8 -9.6 -3.2 18.0 1.5 -18.4 25 26 27 23 29 30 31.5 392.1 16.0 49.5 7.7 29.8 487.9 3.4 66.4 14.7 70.2 706.0 29.3 44.4 8.4 68.6 761.3 25.3 79.9 18.4 105.5 1034.2 17.5 163.3 19.4 65.2 753.5 24.5 142.3 24.7 112.4 692.1 33.2 74.9 10.5 86.6 743.8 -4.1 124.3 -7.3 85.5 553.0 13.9 150.3 8.1 26.6 612.5 15.2 136.6 31.1 100.5 633.9 69.0 115.6 27.9 126.0 846.8 90.2 80.6 36.2 31 32 33 34 35 113.1 110.7 2.2 -2.2 2.4 0.1 24.1 42.4 5.0 48.6 21.7 143.3 136.5 3.7 1.5 1.6 1.5 135.3 52.5 1.7 40.6 9.1 174.0 158.7 12.9 0.9 1.5 0.1 155.9 54.1 11.7 39.1 35.8 188.4 165.6 16.4 3.7 2.7 0.7 89.8 74.4 26.1 71.5 21.7 198.1 162.5 35.0 -.3 0.9 2.6 109.3 86.9 42.7 67.7 43.8 135.4 99.2 34.2 2.0 0.1 2.2 136.6 91.7 39.5 33.6 30.0 156.5 126.4 29.4 -.1 0.8 4.0 114.8 104.0 29.2 29.2 17.6 177.2 146.1 26.7 2.8 1.6 8.3 -90.0 101.8 29.7 81.1 46.1 125.1 94.9 28.4 -2.8 4.5 16.1 -154.0 94.4 26.5 17.2 34.9 80.8 35.7 48.5 -1.5 -1.9 15.8 -123.5 83.2 32.6 85.7 46.0 95.3 69.5 16.5 5.6 3.7 23.5 -61.3 79.1 12.8 37.3 34.4 142.2 36 149.6 37 -9.8 38 X 39 2.4 40 18.1 41 -2.0 42 105.1 43 33.3 44 40.2 45 25.5 46 8.2 2.2 4.7 0.5 29.5 25.3 0.9 9.8 -.2 -17.7 0.1 -10.6 3.0 9.1 35.7 2.1 17.9 -.5 45.0 0.8 28.6 9.9 13.7 46.4 3.2 68.7 1.4 13.9 2.4 4.1 15.1 9.7 42.6 11.8 123.1 2.9 34.1 47.6 -12.7 25.8 4.0 1.8 1.0 -35.0 48.1 12.5 38.1 5.2 11.9 17.9 10.7 0.9 -16.3 35.9 13.9 32.0 20.1 23.8 6.6 67.1 0.5 80.2 27.1 19.7 29.0 -12.7 11.2 90.3 14.7 30.1 -.7 17.5 48.9 10.0 1.7 0.1 123.7 17.4 1.3 1.1 -6.9 53.8 8.0 164.0 10.2 12.9 0.6 9.2 80.1 9.5 1 Total net borrowing 24 Total net lending 25 26 27 28 29 30 Private dom. nonfin. sectors Household sector Nonfarm noncorp. business Nonfin. corporate business State 8 local governments U.S. government 31 32 33 34 35 Rest of the world Financial sectors Govt.-spons. enterprises Fed. related mtg. pools Monetary authority 36 37 38 39 40 41 42 43 44 45 46 Commercial banking U.S.-chartered banks Fgn. banking off. in US Bank holding companies Banks in U.S.-aff. areas Funding corporations Thrift institutions Life insurance cos. Other insurance cos. Private pension funds St.Sloc.govt. rtr. funds 47 48 49 50 51 52 53 54 55 Finance companies Mortgage companies Mutual funds Closed-end funds Money mkt. mutual funds REITs Brokers and dealers ABS issuers Bank personal trusts X 15.2 3.6 X 8.1 41.2 18.5 X X X 41.4 0.2 80.9 -.7 2.8 51.1 15.9 X -3.6 8.0 0.3 2.7 56.3 -9.0 47 X 48 49 50 51 52 53 54 55 (1) Excludes corporate equities and mutual fund shares. F.7 Total Liabilities and Their Relation to Total Financial Assets 1 2 3 4 5 6 7 Net flows through credit markets (from preceding table) 529.8 Other financial sources: 3.6 Official foreign exchange SDR certificates 1.3 Treasury currency 0.4 Life insurance reserves 7.2 Pension fund reserves 170.9 -2.4 Interbank claims 631.5 933.2 1142.9 1191.0 1032.9 1018.7 964.4 862.3 642.2 794.5 961.2 1 1.1 0.5 8.0 168.2 -3.3 2.2 0.6 5.2 157.2 13.9 3.0 0.1 0.4 10.7 271.7 29.7 -.6 0.3 0.5 17.5 289.1 31.2 -9.7 0.5 26.0 201.3 45.4 4.0 0.5 25.3 132.3 2.0 24.8 3.5 0.6 28.8 321.2 -16.2 2.0 1.5 1.0 25.7 165.1 35.4 -5.9 0.8 25.7 360.3 -3.9 -1.6 -2.0 0.2 27.3 249.7 61.7 0.4 35.2 304.7 42.1 2 3 4 5 6 7 X 8 9 10 11 12 13 Checkable dep. and curr. Small time a savings dep. Large time deposits Money market fund shares Security RPs Foreign deposits 37.8 139.6 23.8 32.7 32.0 2.0 39.5 216.6 -11.3 -40.4 11.9 6.5 46.9 151.3 86.8 54.2 35.5 -1.9 83.8 142.6 17.1 10.2 26.5 7.1 124.4 129.4 3.6 48.3 48.1 27.6 3.9 77.1 49.8 24.0 -11.4 8.6 42.7 122.8 53.2 21.9 23.7 23.0 6.4 98.7 16.9 90.1 77.8 35.7 43.3 63.7 -66.1 70.3 -24.2 38.2 86.4 1.5 -58.5 41.2 -16.5 -16.7 113.8 -57.2 -73.2 3.9 35.5 -7.2 117.3 -70.3 -23.5 15.8 65.5 -22.1 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Mutual fund shares Corporate equities Security credit Trade debt Taxes payable Noncorp. proprietors’ equity Inv. in bank personal trusts Miscellaneous 9.4 7.6 5.9 9.5 -2.6 -82.9 -1.9 136.7 29.3 26.7 13.6 44.5 4.6 -76.5 3.2 130.4 27.3 -72.6 4.5 45.6 4.4 -72.3 15.1 158.7 88.7 -65.0 43.3 48.0 0.7 -58.6 10.2 177.9 160.9 -65.9 9.9 27.6 5.6 -34.6 18.1 163.8 70.2 -57.2 -27.4 57.1 5.4 -70.0 13.2 230.6 6.1 -102.8 3.0 80.7 5.3 -23.5 2.2 211.8 37.2 -98.0 15.6 68.2 2.4 -25.8 19.6 313.8 65.3 -45.6 3.5 37.0 -4.8 -28.3 29.7 135.7 151.5 64.0 51.4 3.6 -6.2 -3.3 16.1 197.2 211.9 84.1 4.2 41.5 8.5 18.4 -7.1 257.6 316.8 120.1 61.9 49.0 4.6 -10.2 1.6 302. 1 14 15 16 17 18 19 20 21 1060.4 22 Total financial sources - Floats not incl. in assets Check, dep.: U.S. govt. 23 0.3 24 Other -1.8 25 Trade credit 10.7 - Liabs. not identified as assets 26 Treasury currency -.2 27 Interbank claims -1.1 28 Security RPs 1.3 29 Taxes payable 6.1 30 Miscellaneous -1.6 Totals identified to sectors 31 as assets 1046.7 1254.4 1595.6 1991.0 2196.0 1670.2 1652.6 1985.7 1410.6 1530.2 1764.5 2273.0 22 1.6 2.6 -21.3 0.5 -1.9 -18.6 1.3 0.8 -3.0 -.6 -8.9 -8.6 0.4 -10.8 1.6 0.8 -15. 1 8.4 -2.2 7.0 3.3 8.5 9.1 -13.1 4.5 9.7 0.7 1.6 4.1 -1.5 23 -1.3 24 16.5 25 -.2 -10.9 -13.6 -3.4 35.1 -.1 5.5 -3.3 2.8 34.5 -.2 5.3 -7.2 0.9 -19.8 -2.8 12.6 3.0 -51.4 -.1 -4.0 -23.8 6.7 -47.8 -.1 -3.0 -24.6 6.3 4.6 -.2 -4.4 32.4 2.7 -55.6 0.2 1.6 -24.0 0.1 -35.4 -.6 26.2 6.2 1.3 -45.3 -.2 -4.9 27.9 14.0 -46.0 1264.5 1576.1 2012.9 2252.7 1749.6 1682.0 1997.6 1447.2 1541.2 1767.2 BILLIONS OF DOLLARS. X X -.2 4.2 81.1 1.0 -45.3 26 27 28 29 30 2218.5 31 DECEMBER 7, 1994 Total Claims Total Claims F.6-F.7 Total Claims g SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES 1991 1 IV 1 1992 II I III IV 1 1 1993 I II III 1 1 IV 1994 II 1 III F.6 Total Net Borrowing and Lending in Credit Markets (1) 1 725.5 806.5 811.8 901.5 658.4 700.7 958.8 1135.3 1050.0 1061.9 836.4 954.5 Total net borrowing 2 3 4 5 6 7 8 9 454.2 275.3 178.9 218.1 -.4 -53.2 -64.9 79.2 618.4 331.3 287.1 238.6 -.2 -22.1 35.6 35.2 505.1 347.4 157.7 121.0 5.1 -45.3 42.4 34.5 564.8 294.6 270.3 261.6 1.6 -54.3 27.4 34.1 456.0 242.7 213.3 249.6 -2.4 -53.9 58.2 -38.2 481.4 240.5 240.9 167.5 -2.3 -28.6 19.3 85.0 740.5 336.4 404.1 264.1 2.7 -33.4 57.4 113.2 613.3 173.4 439.9 368.5 4.1 -26.2 46.3 47.3 677.2 274.2 403.0 337.7 3.6 -15.6 60.2 17.1 651.2 210.6 440.6 299.4 3.1 8.4 119.9 9.9 543.4 122.9 420.5 303.6 11.8 16.5 116.4 -27.8 612.3 134.1 478.1 370.5 3.6 26.9 125.9 -48.8 Domestic nonfinan. sectors U.S. government Private domestic Household sector Farm business Nonfarm noncorp. bus. Nonfin. corporate bus. State and local govts. 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 34.8 236.5 32.5 118.9 -9.5 7.0 13.9 -24.9 20.5 22.2 2.9 3.2 49.8 -3.8 191.9 11.5 118.9 1.7 10.9 18.8 -19.1 55.0 251.7 48.3 139.9 6.5 -9.2 16.3 -8.8 38.9 180.4 32.2 137.2 3.5 21.1 -31.4 9.7 0.1 -19.6 -25.2 0.4 -9.5 62.0 42.8 175.5 68.8 -12.2 11.3 1.3 -1.6 12.9 0.6 -13.6 32.4 1.3 13.7 60.5 83.1 438.9 167.8 119.5 6.5 0.5 7.9 13.8 -.1 17.5 -.8 6.0 14.6 85.8 22.9 349.8 53.4 77.9 1.2 12.2 36.7 8.9 0.4 16.3 -10.4 6.2 29.3 117.6 -1.9 294.9 146.6 98.6 12.4 8.2 -17.1 5.9 -3.4 345.6 152.1 72.8 22.8 11.7 47.0 15.3 -3.5 -3.3 1.3 13.5 50.7 3.6 198.8 33.5 99.2 14.5 0.8 3.6 -5.3 -.2 1.0 -6.4 -5.6 -4.0 67.7 -66.3 477.0 140.8 180.0 2.0 3.5 47.4 -5.5 -27.3 27.5 3.2 2.9 42.9 30.6 306.1 67.7 104.3 12.6 6.6 14.0 6.4 0.2 15.2 14.4 2.3 -1.6 64.0 63.3 -27.6 1.2 -9.9 81.8 67.0 -33.2 2.2 0.3 4.0 16.9 -10.0 2.3 -7.6 22.3 Rest of the world Financial sectors Govt.-spons. enterprises Fed. related mtg. pools Commercial banks Bank folding companies Funding corporations Thrift institutions Life insurance companies Finance companies Mortgage companies REITs Brokers and dealers ABS issuers 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 725.5 806.5 811.8 901.5 658.4 700.7 958.8 1135.3 1050.0 1061.9 836.4 954.5 Total net lending 25 26 27 28 29 30 -28.4 -54.5 -3.1 -15.3 44.6 -22.1 173.5 181.9 -1.3 24.5 -31.5 16.4 83.1 43.7 -1.0 30.7 9.6 -21.7 -72.8 -54.7 -1.0 29.9 -47.1 -26.3 104.3 112.0 -1.3 31.8 -38.3 -16.0 -23.1 -74.8 -3.0 -2.4 57.0 -23.2 -3.7 -75.6 -3.2 17.3 57.7 -27.1 -39.5 -69.7 -3.3 41.2 * -7.7 -15.4 93.3 181.8 -3.5 16.0 -101.0 -7.9 458.8 462.2 -3.6 21.9 -21.6 -40.8 346.1 412.3 -1.8 23.8 -88.2 -8.2 208.8 316.4 -1.9 -1.7 -104.0 -6.6 31 32 33 34 35 57.9 718.0 33.9 118.9 17.2 85.7 530.9 92.1 118.9 27.2 152.5 597.9 34.4 139.9 20.0 65.4 935.2 68.7 104.3 16.1 98.3 471.9 80.7 99.2 48.2 65.9 681.1 16.7 137.2 42.5 93.4 896.2 128.0 -12.2 35.7 123.5 1066.6 144.8 119.5 28.2 221.2 743.3 71.2 77.9 38.5 127.5 516.4 92.4 180.0 48.8 51.9 446.7 101.1 98.6 17.9 113.1 639.3 135.6 72.8 24.0 36 37 38 39 40 41 42 43 44 45 46 116.0 50.5 65.9 1.1 -1.5 25.8 -56.7 26.6 26.4 135.2 11.8 101.4 81.1 10.7 6.7 2.9 30.1 -105.6 65.8 23.7 -33.2 40.2 57.4 10.1 44.9 -1.9 4.3 -17.3 -75.3 69.6 15.8 74.1 33.9 158.8 133.3 4.0 17.4 4.1 69.9 -41.6 80.4 -.2 99.9 46.8 63.8 53.4 6.5 0.2 3.6 11.4 -22.6 100.8 11.9 8.4 16.7 100.5 103.4 -1.4 -4.5 3.0 -3.8 -30.7 113.0 27.3 118.0 -9.8 133.4 137.4 -14.3 7.9 2.4 1.1 15.2 109.4 36.0 11.1 47.5 146.7 160.3 -16.9 1.2 2.2 32.4 21.0 111.8 37.6 91.9 27.4 188.1 197.3 -6.5 -4.8 2.1 42.6 -13.3 86.4 32.1 -60.1 36.9 184.7 120.6 59.0 3.1 2.1 17.8 13.5 53.7 27.9 -97.7 45.3 112.7 128.4 -17.8 0.2 1.9 35.3 42.1 6.1 20.8 -30.7 51.2 183.5 164.7 19.2 -2.4 1.9 18.7 44.7 33.3 16.0 -13.4 41.1 Commercial banking U.S.-chartered banks Fgn. banking off. in US Bank holding companies Banks in U.S.-aff. areas Funding corporations Thrift institutions Life insurance cos. Other insurance cos. Private pension funds St.Sloc.govt. rtr. funds 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 -26.0 60.4 116.1 14.7 43.3 -.9 -1.2 47.5 8.9 1.0 23.0 113.1 21.6 25.6 -.7 -62.7 40.6 8.6 -13.9 -38.5 125.7 15.8 -12.2 2.6 107.6 50.9 7.6 -2.7 28.9 160.1 15.2 21.3 -.3 40.6 61.7 7.5 22.3 -12.8 96.1 17.3 -29.4 2.6 -113.1 62.1 8.3 -33.3 -50.4 148.6 16.7 -57.3 0.2 75.2 61.5 9.1 -34.7 65.1 194.4 10.5 33.3 0.8 52.5 59.4 10.0 9.4 -1.6 174.6 5.9 25.3 1.0 -7.8 88.6 9.9 22.6 -13.3 138.4 7.7 50.3 0.2 -82.8 111.1 8.9 72.1 -55.4 -72.6 8.7 -37.4 0.7 -56.1 81.0 9.3 49.8 -66.2 11.3 3.6 33.7 0.7 -52.6 6.2 5.2 59.0 -20.0 -18.6 1.4 54.4 0.7 -14.4 17.5 2.9 Finance companies Mortgage companies Mutual funds Closed-end funds Money mxt. mutual funds REITs Brokers and dealers ABS issuers Bank personal trusts 47 48 49 50 51 52 53 54 55 M N M N M 1 24 Private dom. nonfin. sectors Household sector Nonfarm noncorp, business Nonfin. corporate business State 8 local governments U.S. government 25 26 27 28 29 30 Rest of the world Financial sectors Govt.-spons. enterprises Fed. related mtg. pools Monetary authority 31 32 33 34 35 (1) Excludes corporate eoultles and mutual fund shares. F.7 Total Liabilities and Their Relation to Total Financial Assets 1 725.5 806.5 811.8 901.5 658.4 700.7 958.8 1135.3 1050.0 1061.9 836.4 2 3 4 5 6 7 -5.0 0.5 19.2 415.5 -35.8 3.5 0.1 29.6 180.3 87.0 -6.5 0.3 15.6 233.4 130.9 -8.5 0.2 37.5 317.1 43.2 5.1 -8.0 0.3 26.3 267.9 -14.4 3.4 0.3 38.6 331.7 63.8 -4.0 0.4 35.3 333.7 130.2 1.7 0.4 46.6 359.9 -7.6 2.2 0.7 20.5 193.6 -18.1 -.2 0.7 20.0 -18.8 150.8 -11.2 0.6 8.1 64.3 195.7 Net flows through credit markets (from preceding table) 954.5 Other financial sources: -.6 Official foreign exchange SDR certificates Treasury currency 0.3 Life insurance reserves 23.3 Pension fund reserves 197.3 Interbank claims -44.5 8 9 10 11 12 13 105.6 -47.4 -94.4 32.1 19.3 -16.4 161.5 -47.1 -56.1 34.0 3.0 -36.2 65.1 -60.1 -112.0 25.2 126.4 -12.5 176.7 -91.8 -33.6 -10.0 81.2 43.2 51.8 -29.9 -91.1 -33.4 -68.7 -23.2 99.7 -108.5 -21.6 -46.8 170.7 -11.9 214.4 -67.8 -26.8 61.3 37.9 -17.1 73.1 -68.1 -59.5 0.6 67.3 -50.7 81.9 -36.6 13.7 47.7 -14.4 -8.6 173.1 2.5 -39.6 -10.9 12.8 24.9 -68.0 -59.9 -4.8 67.8 176.3 35.9 -31.0 -61.5 30.6 50.3 68.3 5.0 Checkable dep. and curr. Small time S savings dep. Large time deposits Money market fund shares Security RPs Foreign deposits 14 15 16 17 18 19 20 21 192.7 89.3 113.6 10.8 -2.8 15.6 7.9 304.7 198.3 103.2 -61.6 26.8 12.1 3.5 -.3 247.0 200.4 74.0 -3.7 41.8 3.5 28.4 -10.2 254.0 243.4 69.7 82.5 51.2 8.5 9.1 -12.0 335.1 205.4 89.4 -.4 46.1 9.7 32.8 -6.0 194.5 268.9 75.0 44.8 43.4 7.9 -6.6 -4.2 197.9 358.0 113.9 40.0 51.0 7.3 -14.8 -7.2 404.0 348.9 149.1 76.6 49.6 -1.8 6.2 0.1 222.3 291.5 142.4 86.5 51.9 4.9 -25.8 17.6 384.0 114.0 100.5 29.7 30.3 13.7 -45.8 15.4 279.6 152.7 65.8 -17.3 67.2 -3.4 -47.2 -15.5 204.8 131.2 -13.8 -62.3 61.6 5.9 -39.9 6.7 316.3 Mutual fund shares 14 Corporate equities 15 Security credit 16 Trade debt 17 Taxes payable 18 Noncorp, proprietors’ equity 19 Inv. in bank personal trusts 20 Miscellaneous 21 22 1850.4 1695.0 1805.9 2244.2 1312.8 1847.1 2608.9 2350.7 2285.5 1914.8 1648.4 23 24 25 -92.8 -5.8 -6.1 14.8 13.9 -19.2 -11.2 1.5 0.5 10.8 -11.3 30.3 -11.8 2.2 5.0 4.7 -2.0 5.8 2.9 8.3 25.7 2. 1 -5.2 22.2 -15.5 -6.2 12.5 -2.4 0.6 -27.0 0.3 -1.1 -10.3 26 27 28 29 30 -.1 12.8 50.3 1.4 1.8 -.3 1.2 -21.2 6.8 -50.4 -.2 -13.1 98.5 9.4 -89.3 -.2 -2.0 25.2 30.4 -52.6 -. 1 -5.5 8.9 9.5 8.4 -.2 2.7 179.6 -6.9 -101.5 -.2 0.5 60.8 18.2 -97.6 -.2 -10.4 66.6 1.2 -18.4 -.2 24.0 17.3 -8.6 36.4 -.2 -29.1 7.1 -.7 -87.6 -.2 5.3 119.1 12.4 -173.7 31 1888.9 1749.4 1809.9 2213.5 1296.1 1765.0 2590.2 2292.9 2225.9 2054.2 1696.6 BILLIONS OF DOLLARS. 1599.4 Total financial sources - Floats not incl. In assets 14.7 Check, dep.: U.S. govt. Other -6.2 -2.2 Trade credit - 1_iabs. not identified as assets Treasury currency 11.4 Interbank claims 63.8 Security RPs -1.4 Taxes payable 79.9 Miscellaneous Totals identified to sectors 1439.4 as assets K 1 2 3 4 5 6 7 8 9 10 11 12 13 22 23 24 25 26 27 28 29 30 31 DECEMBER 7, 1994 Personal Savins Personal Saving F.8 Derivation of Measures of Personal Saving (1) 7 ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 380.0 498.0 532.2 631.9 593.9 511.8 508.5 594.9 502.3 442.2 532.1 526.4 1 2 3 4 Checkable deposits and curr. Time and savings deposits Money market fund shares 24.7 113.6 31.5 21.7 198.4 -31.2 4.2 225.2 43.3 29.0 117.2 2.3 94.9 94.2 35.7 -2.0 92.5 22.0 27.2 136.2 15.9 -1.2 79.6 76.8 5.4 38.5 28.6 63.0 -117.4 8.7 131.1 -112.1 -41.8 81.6 -91.1 -10.2 2 3 4 5 6 7 8 9 Securities U.S. savings bonds Other U.S. Treasury secur. U.S. govt, agency secur. Tax-exempt securities 10.5 0.2 25.4 -19.0 29.6 100.7 3.1 43.5 -5.3 34.7 47.7 3.0 48.3 23.0 27.6 109.2 5.3 -3.2 13.1 72.2 -6.5 13.6 -32.5 -16.1 -15.8 102.8 7.8 -3.4 42.5 80.1 103.4 8.5 60.9 63.4 39.7 23.2 8.2 12.5 46.3 55.6 191.4 8.5 106.8 12.7 17.7 56.6 11.9 -54.8 7.9 34.9 257.4 19.1 33.1 49.2 -34.8 139.7 14.7 32.3 -40.3 -16.0 5 6 7 8 9 -.8 -4.2 3.4 -24.1 2.5 17.9 26.9 -22.6 -6.0 -1.6 20.2 -66.8 -.8 58.4 75.5 -111.2 33.9 -5.8 120.0 -103.9 18.3 3.3 56.9 -102.6 -21.8 31.3 14.1 -92.6 -17.2 -9.0 36.0 -109.1 38.0 -8.3 37.7 -21.7 10.3 -34.8 115.1 -33.8 -4.8 5.2 146.5 43.8 26.2 -35.5 186.9 -28.5 10 11 12 13 7.0 39.7 87.8 43.6 -1.9 23.5 7.8 38.8 80.2 49.4 3.2 29.1 5.0 46.7 47.3 63.5 15.1 34.3 10.4 63.4 136.2 72.5 10.2 81.5 17.2 82.5 114.1 92.8 18.1 51.0 25.7 62.7 60.0 78.9 13.2 55.9 24.9 85.0 -28.4 76.0 2.2 66.1 28.4 77.8 142.4 101.3 19.6 46.9 25.3 84.4 -10.9 92.0 29.7 18.0 25.6 81.1 192.5 86.8 16.1 29.1 27.7 75.2 75.0 99.0 -7.1 27.7 35.7 102.0 92.4 109.9 1.6 64.9 14 15 16 17 18 19 20 Gross Inv. in tangible assets 21 Owner-occupied homes 22 Other fixed assets (2) 23 Consumer durables 24 Inventories (2) 433.7 89.0 103.5 236.5 4.7 497.1 132.4 104.6 275.0 -14.9 605.1 157.1 121.3 317.9 8.8 651.9 161.5 130.8 353.0 6.7 711.0 189.6 132.8 389.6 -.9 735.6 198.5 138.2 403.7 -4.8 779.1 206.8 145.2 437.1 -10.0 822.0 206.8 152.8 459.4 3.1 807.4 191.5 144.5 468.2 3.3 758.4 173.1 129.4 456.6 -.7 825.9 205.5 122.2 492.7 5.5 905.2 230.3 140.7 538.0 -3.7 20 21 22 23 24 25 Capital consumption allowances 26 Owner-occupied homes 27 Other fixed assets (2) 28 Consumer durables 371.0 58.8 98.1 214.1 386.8 61.0 101.5 224.4 405.2 63.4 105.7 236.1 435.5 67.7 110.6 257.1 464.2 70.2 115.9 278.2 496.9 75.0 121.1 300.8 532.4 80.0 127.9 324.5 580.0 92.1 137.5 350.4 614.2 93.2 142.9 378.1 649.3 97.4 147.5 404.4 693.8 111.6 152.2 430.1 712.5 107.1 156.2 449.1 25 26 27 28 62.7 30.2 5.4 22.4 4.7 110.3 71.5 3.1 50.6 -14.9 199.8 93.7 15.6 81.8 8.8 216.4 93.7 20.2 95.8 6.7 246.8 119.5 16.9 111.4 -.9 238.7 123.5 17.1 102.9 -4.8 246.7 126.7 17.3 112.6 -10.0 242.0 114.6 15.3 109.0 3.1 193.2 98.3 1.6 90.0 3.3 109.2 75.7 -18.0 52.2 -.7 132.1 94.0 -30.0 62.6 5.5 192.7 123.1 -15.6 88.9 -3.7 29 30 31 32 33 34 Net increase ln liabilities 35 Mtg. debt on nonfarm homes 36 Other mortgage debt (2) 37 Consumer credit 38 Security credit 39 Policy loans 40 Other liabilities (2) 182.9 56.1 72.7 16.4 2.8 4.2 30.7 288.5 117.1 69.9 48.9 8.4 1.1 43.1 362.8 135.6 81.9 81.7 -2.3 0.4 65.5 444.3 171.7 98.1 82.3 18.9 -.1 73.6 365.2 203.4 69.3 57.5 6.7 -.1 28.3 354.4 240.9 57.3 32.9 -16.3 39.7 363.1 234.3 44.1 50.1 1.7 -.1 33.0 360.0 223.8 43.8 45.8 -1.0 3.2 44.4 252.2 185.0 18.3 16.0 -3.7 4.1 32.5 159.7 163.3 -2.1 -15.0 16.3 4.8 -7.5 191.8 179.0 -27.6 5.5 -1.8 5.7 30.9 309.4 183.3 -12.4 62.3 22.7 5.7 47.9 34 35 36 37 38 39 40 41 42 43 44 45 Personal saving, FOF (3) - Govt. Insurance 8 pen. res. - Net investment ln cons. dur. - Net saving by farm corps. = Personal saving (NIPA concept, FOF data) 259.8 43.6 22.4 0.5 193.3 319.9 49.4 50.6 0.6 219.3 369.2 63.5 81.8 0.7 223.2 404.0 72.5 95.8 0.9 234.8 475.5 92.8 111.4 0.6 270.7 396.1 78.9 102.9 0.9 213.4 392.1 76.0 112.6 1.4 202.1 476.9 101.3 109.0 1.8 264.8 443.3 92.0 90.0 2.2 259.0 391.7 86.8 52.2 1.6 251.1 472.4 99.0 62.6 0.8 310.1 409.8 109.9 88.9 0.4 210.6 41 42 43 44 45 46 Personal saving (NIPA measure) 199.5 168.6 222.0 189.3 187.5 142.0 155.7 152.1 170.0 211.5 247.9 192.5 46 -6.2 50.7 1.2 45.6 83.2 71.3 46.4 112.7 89.0 39.6 62.2 18.0 47 2319.6 2493.7 2759.5 2943.0 3131.5 3289.6 3548.2 3787.0 4050.6 4236.6 4505.8 4688.7 48 15.1% 8.6% 5.9% 2.6% 12.0% 6.4% 4.3% 2.1% 11.0% 5.6% 4.3% 1.3% 12.5% 6.9% 4.0% 2.9% 10.9% 6.3% 4.1% 2.1% 9.2% 5.9% 4.9% 0.9% 10.4% 6.8% 5.5% 1.3% I Net acq. of financial assets 10 11 12 13 14 15 16 17 18 19 Corporate 8 foreign bonds Open market paper Mutual fund shares Corporate equities Private life insurance res. Private insured pension res. Private noninsured pen. res. Govt, insurance 8 pen. res. Inv. in bank pars, trusts Miscellaneous finan. assets 29 Net inv. in tangible assets 30 Owner-occupied homes 31 Other fixed assets (2) 32 Consumer durables 33 Inventories (2) 47 Difference (4) Memo: 48 Personal disposable Income K Personal saving as a percentage of disposable personal income: 49 50 51 52 FOF measure (line 41) NIPA concept,FOF datadine 45) NIPA measure (line 46) Difference (line 47) 11.2% 8.3% 8.6% -0.2% 12.8% 8.7% 6.7% 2.0% 13.3% 8.0% 8.0% 0.0% (1) Consolidated statement for household sector, farm business, and nonfarm noncorporate business. (2) Includes corporate farms. (3) Line 1 plus line 29 less line 34. (4) Household sector discrepancy with sign reversed. BILLIONS OF DOLLARS 13.7% 7.9% 6.4% 1.5% 8.7% 4.4% 4.1% 0.3% 49 50 51 52 DECEMBER 7, 1994 Personal Savins Personal Savins F.8 Derivation of Measures of Personal Savins (1) g SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES 1991 IV 1992 I 11 I II III IV I 1 199S I II III I 1 IV I 1994 II III I 452.7 579.8 429.1 592.1 527.3 352.2 636.5 579.1 537.9 638.3 609.6 492.7 Net acq. of financial assets 2 3 4 49.6 -183.0 -9.6 183.2 -65.2 -30.5 51.9 -140.3 22.2 166.7 -123.7 -99.1 122.4 -119.2 -60.0 64.6 -188.9 -53.7 131.0 -45.7 54.5 74.9 -107.6 -37.4 56.0 -22.4 -4.2 95.5 57.1 -41.0 40.2 -22.5 13.7 -9.2 -10.7 23.3 Checkable deposits and curr. Time and savings deposits Money market fund shares 2 3 4 5 6 7 8 9 45.9 11.0 -159.9 45.2 33.2 298.0 15.6 180.1 32.8 5.1 239.8 13.4 35.2 -7.1 -24.7 234.7 19.9 -31.6 79.6 -20.5 257.2 27.8 -51.2 91.6 -98.9 69.1 25.4 -8.0 -21.3 22.6 95.5 11.6 113.0 -202.8 15.4 161.6 10.2 -18.5 -42.8 -45.9 232.4 11.3 42.6 105.8 -56.0 450.9 12.3 227.3 243.4 -26.7 466.9 8.5 165.3 249.9 -20.9 264.1 6.0 194.2 131.4 -48.3 Securities U.S. savings bonds Other 'J.S. Treasury secur. U.S. govt, agency secur. Tax-exempt securities 5 6 7 8 9 10 11 12 13 -3.0 11.7 142.5 -34.7 0.6 -72.0 135.4 0.5 -29.0 50.4 127.4 74.2 -37.3 -47.0 183.1 88.6 46.6 89.6 140.0 11.8 1.5 -112.0 158.7 2.2 15.7 -42.9 203.5 -17.9 -5.8 44.2 214.9 5.4 93.4 -31.3 170.3 -103.8 78.5 -79.4 89.9 -94.4 67.0 -88.7 99.0 -13.2 9.5 36.9 90.9 -156.5 14 15 16 17 18 19 19.3 71.6 272.0 71.7 7.9 107.3 29.9 61.1 2.1 116.9 -.3 -15.4 16.0 78.0 73.9 81.1 -10.2 16.7 38.0 72.0 122.3 122.2 -12.0 70.9 26.9 89.8 101.7 75.8 -6.0 38.6 39.1 89.8 190.6 50.8 -4.2 95.1 35.8 119.5 81.4 132.4 -7.2 39.3 47.1 117.6 137.3 104.5 0.1 60.8 20.9 81.2 -39.8 151.7 17.6 44.4 20.3 76.3 -194.1 98.6 15.4 59.3 8.5 53.8 -108.3 113.4 -15.5 54.5 24.1 70.5 6.7 120.3 6.7 -3.1 20 21 22 23 24 768.6 182.4 126.5 461.2 -1.5 800.0 192.8 118.1 480.1 9.1 816.7 204.3 122.1 483.3 7.0 829.7 206.5 122.8 495.7 4.7 857.3 218.7 125.7 511.6 1.3 875.0 224.3 135.0 516.1 -.5 868.3 222.3 139.0 531.2 -4.1 902.7 228.3 141.5 541.9 -9.1 954.8 246.1 147.1 562.8 -1.2 991.7 255.6 156.9 576.2 2.9 1013.6 261.7 160.8 580.3 10.8 25 26 27 28 661.2 98.8 152.3 410.1 670.7 105.2 141.0 424.5 676.6 106.2 142.0 428.5 746.6 133.4 173.6 439.7 681.4 101.5 152.2 427.7 707.7 100.8 162.0 445.0 703.8 100.6 158.8 444.4 720.9 124.6 *141.6 454.6 717.5 102.5 162.6 452.4 808.4 127.5 176.5 504.3 754.0 106.7 167.7 479.6 767.0 Capital consumption allowances 108.5 Owner-occupied homes 170.8 Other fixed assets (2) Consumer durables 437.7 25 26 27 28 29 30 31 32 33 107.4 83.5 -25.7 51.1 -1.5 129.3 87.5 -22.9 55.6 9.1 140.1 96.1 -19.8 54.8 7.0 83.0 73.1 -50.8 56.0 4.7 176.0 117.2 -26.5 83.9 1.3 167.3 123.6 -26.9 71.1 -.5 184.6 121.6 -19.8 86.8 -4.1 181.8 103.7 -.1 87.3 -9.1 237.3 143.5 -15.5 110.4 -1.2 183.2 128.1 -19.6 71.9 2.9 259.6 154.9 -6.9 100.7 10.8 265.9 Net inv. in tangible assets 152.4 Owner-occupied homes -4.3 Other fixed assets (2) 104.6 Consumer durables Inventories (2) 13.1 29 30 31 32 33 34 35 36 37 38 39 40 207.4 206.0 -8.3 -10.3 40.0 -1.2 -18.8 212.3 232.7 -11.8 -4.6 -15.4 2.2 9.2 121.5 92.1 -22.6 -15.0 20.4 4.3 42.2 229.1 226.9 -24.4 12.0 -2.0 5.8 10.8 204.1 164.4 -51.5 29.6 -10.3 10.5 61.6 185.5 120.4 -14.9 20.3 23.4 3.3 33.1 260.0 193.0 -10.4 41.6 -1.5 3.9 33.4 404.2 235.9 -10.0 76.2 31.5 7.4 63.2 387.9 183.9 -14.4 111.3 37.2 8.1 61.8 338.1 179,7 -19.5 72.7 2.2 4.5 98.6 356.1 144.3 18.2 121.9 -3.0 8.2 66.4 413.5 Net increase in liabilities 199.0 Mtg. debt on nonfarm homes 14.8 Other mortgage debt (2) 127.1 Consumer credit -14.0 Security credit Policy Ioans 9.5 Other liabilities (2) 77.1 34 35 36 37 38 39 40 41 42 43 44 45 352.7 71.7 51.1 1.2 228.7 496.8 116.9 55.6 1.0 323.3 447.7 81.1 54.8 0.8 311.0 446.1 122.2 56.0 0.6 267.3 499.1 75.8 83.9 0.7 338.7 333.9 50.8 71.1 0.4 211.6 561.1 132.4 66.8 0.6 341.3 356.7 104.5 87.3 0.4 164.5 387.3 151.7 110.4 0.4 124.8 483.4 98.6 71.9 0.3 312.6 513.3 113.4 100.7 0.3 293.9 345.1 120.3 104.6 0.3 119.8 46 224.6 234.7 243.7 225.8 287.4 184.4 214.0 182.2 189.5 175.5 201.1 47 4.1 88.6 67.3 41.5 51.3 27.2 127.3 -17.7 -64.7 137.1 92.8 48 4303.0 4401.1 4463.2 4500.0 4658.8 4598.1 4678.6 4700.5 4777.6 4832.7 4913.5 Corporate 8 foreign bonds Open market paper Mutual fund shares Corporate equities Private life insurance res. Private Insured pension res. Private noninsured pen. res. Govt, insurance & pen. res. Inv. in bank pers. trusts Miscellaneous finan. assets 1032.9 Gross inv. in tangible assets 260.9 Owner-occupied homes Other fixed assets (2) 166.6 Consumer durables 592.3 13.1 Inventories (2) Personal saving, FOF (3) - Govt, insurance 8 pen. res. - Net investment in cons. dur. - Net saving by farm corps. = Personal saving (NIPA concept, FOF dat3) 1 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 41 42 43 44 45 198.4 Personal saving (NIPA measure) 46 -78.6 Difference (4) Memo: 4986.5 Personal disposable income 47 48 Per sonal siaving as a percentage of disposable personal income: 49 50 51 52 8.IX 5.3X 5.2% O.OX 11.2X 7.3X 5.3X 2.OX 10.OX 6.9X 5.4X 1.5X 9.9X 5.9X 5. OX 0.9X 10.7X 7.2X 6. IX 1.1X 7.2X 4.6X 4. OX 0.5X 11.9X 7.2X 4.5X 2.7X 7.5X 3.5X 3. ax - 0.3X 8. IX 2.6X 3.9X -1.3X 10. OX 6.4X 3.6X 2.3X 10.4X 5.9X 4. OX 1.8X 6.9X 2.4X 3.9X -1.5X 49 FOF measure (line 41) NIPA concept,FOF datadine 45) 50 NIPA measure (line 46) 51 Difference (line 47) 52 (1) Consolidated statement for household sector, farm business, and nonfarm noncorporate business. (2) Includes corporate farms. (3) Line 1 plus line 29 less line 34. (4) Household sector discrepancy with sign reversed. BILLIONS OF DOLLARS DECEMBER 7, 1994 Household Sector Household Sector p F.100 Households and Nonprofit Organizations (1) ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1 Personal income 2 - Personal taxes and nontaxes 2691.0 371.4 2862.5 368.3 3154.6 395.1 3379.8 436.8 3590.5 459.0 3802.0 512.5 4075.9 527.8 4380.3 593.3 4673.8 623.2 4860.3 623.7 5154.4 648.6 5375.1 686.4 1 2 3 3 Disposable personal income 4 - Personal outlays 5 3 Personal saving, NIPA (2) 2319.6 2120.1 199.5 2493.7 2325.1 168.6 2759.5 2537.5 222.0 2943.0 2753.7 189.3 3131.5 2944.0 187.5 3289.6 3147.5 142.0 3548.2 3392.5 155.7 3787.0 3634.9 152.1 4050.6 3880.6 170.0 4236.6 4025.1 211.5 4505.8 4257.9 247.9 4688.7 4496.2 192.5 3 4 5 Govt. Insur. 8 pension res. Net Inv. in cons, durables Capital consumption allow. Gross saving 43.6 22.4 285.0 550.5 49.4 50.6 298.3 566.9 63.5 81.8 313.5 680.7 72.5 95.8 339.8 697.3 92.8 111.4 364.5 756.2 78.9 102.9 393.2 717.1 76.0 112.6 423.5 767.8 101.3 109.0 463.4 825.8 92.0 90.0 493.8 845.9 86.8 52.2 525.8 876.3 99.0 62.6 566.9 976.4 109.9 88.9 583.2 974.4 6 7 8 9 10 Gross investment 11 Capital expend, net of sales 12 Residential construction 13 Consumer durable goods 14 Nonprofit plant and equip. 544.3 344.9 89.0 236.5 19.4 617.6 429.0 132.4 275.0 21.6 681.9 497.7 157.1 317.9 22.7 742.9 537.6 161.5 353.0 23.2 839.4 604.3 189.6 389.6 25.1 788.4 631.2 198.5 403.7 29.0 814.2 675.9 206.8 437.1 32.1 938.5 701.2 206.8 459.4 35.0 934.9 696.9 191.5 468.2 37.2 915.9 666.2 173.1 456.6 36.5 1038.6 735.8 205.5 492.7 37.6 992.5 809.1 230.3 538.0 40.8 10 11 12 13 14 6 7 8 9 + + * - 15 16 Net financial investment Net acq. of financial assets 199.4 237.0 188.6 385.3 184.2 409.8 205.3 526.5 235.1 510.9 157.2 432.3 138.3 434.3 237.3 534.9 238.0 464.6 249.7 431.5 302.8 525.9 183.4 15 499.5 16 17 18 19 20 21 Deposits Checkable dep. and curr. Small time and svgs.dep. Large time deposits Money mkt. fund shares 162.7 21.0 122.5 -12.3 31.5 166.7 13.2 187.2 -2.5 -31.2 254.2 -.9 138.2 73.6 43.3 124.9 16.9 115.3 -9.7 2.3 206.5 87.9 98.6 -15.7 35.7 112.0 -4.3 52.5 41.8 22.0 161.8 19.0 93.9 33.0 15.9 142.2 -5.6 64.0 7.0 76.8 71.8 5.4 66.3 -28.5 28.6 -43.3 62.0 -45.4 -68.6 8.7 -29.3 123.8 -64.7 -46.6 -41.8 -20.3 78.0 -68.8 -19.3 -10.2 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Credit mkt. instruments U.S. govt, securities Treasury Savings bonds Other Agency Tax-exempt securities Corporate and fgn. bonds Mortgages Open market paper 41.6 6.7 25.7 0.2 25.5 -19.0 29.6 -.8 10.3 -4.2 93.3 38.6 43.9 3.1 40.8 -5.3 34.7 2.5 -.4 17.9 94.6 74.9 51.9 3.0 48.9 23.0 27.6 -6.0 -.3 -1.6 161.5 14.9 1.8 5.3 -3.4 13.1 72.2 -.8 16.9 58.4 -28.1 -36.3 -20.2 13.6 -33.7 -16.1 -15.8 33.9 -4.2 -5.8 176.2 47.3 4.8 7.8 -3.0 42.5 80.1 18.3 27.2 3.3 196.7 132.3 68.9 8.5 60.5 63.4 39.7 -21.8 15.2 31.3 94.7 65.5 19.2 8.2 11.1 46.3 55.6 -17.2 -.2 -9.0 157.2 127.0 114.3 8.5 105.8 12.7 17.7 38.0 -17.2 -8.3 -39.6 -34.9 -42.8 11.9 -54.7 7.9 34.9 10.3 -15.1 -34.8 70.7 100.9 51.7 19.1 32.5 49.2 -34.8 -4.8 4.1 5.2 -9.5 5.2 45.5 14.7 30.9 -40.3 -16.0 26.2 10.5 -35.5 22 23 24 25 26 27 28 29 30 31 32 33 Mutual fund shares Corporate equities 3.4 -24.1 26.9 -22.6 20.2 -66.8 75.5 -111.2 120.0 -103.9 56.9 -102.6 14.1 -92.6 36.0 -109.1 37.7 -21.7 115.1 -33.8 146.5 43.8 186.9 32 -28.5 33 34 35 36 Life insurance reserves Pension fund reserves Inv. in bank pers. trusts 7.2 170.9 -1.9 8.0 168.2 3.2 5.2 157.2 15.1 10.7 271.7 10.2 17.5 289.1 18.1 26.0 201.3 13.2 25.3 132.3 2.2 28.8 321.2 19.6 25.7 165.1 29.7 25.7 360.3 16.1 27.3 249.7 -7.1 35.2 34 304.7 35 1.6 36 37 38 39 Equity in noncorp. bus. Security credit Miscellaneous assets -82.9 3.1 7.1 -76.5 2.7 15.5 -72.3 1.0 1.3 -58.6 13.5 28.3 -34.6 9.0 17.2 -70.0 -5.8 25.1 -23.5 1.8 16.4 -25.8 12.3 14.9 -28.3 9.2 18.2 -3.3 24.6 9.6 18.4 -11.0 17.0 -10.2 37 26.6 38 13.1 39 40 41 42 43 Net increase in liabilities Credit market instruments Home mortgages Consumer credit 87.6 83.2 46.0 16.4 196.7 185.3 108.1 48.9 225.5 225.7 128.1 81.7 321.2 299.1 161.3 82.3 275.8 268.1 196.5 57.5 275.1 285.4 234.2 32.9 296.1 291.4 227.9 50.1 297.6 281.6 217.6 45.8 226.6 218.9 179.0 16.0 181.8 170.9 159.2 -15.0 223.1 217.7 174.4 5.5 316.0 284.5 178.2 62.3 40 41 42 43 44 45 46 47 44 45 46 47 Tax-exempt debt Commercial mortgages Bank loans n.e.c. Other loans 8.5 3.0 1.8 7.4 11.4 13.1 0.5 3.3 10.2 7.0 -4.1 2.9 30.2 5.9 10.1 9.3 -2.2 8.1 1.5 6.6 -1.0 10.2 2.2 6.9 1.3 9.5 -3.9 6.5 2.5 19.1 -10.4 7.1 3.8 15.3 -6.5 11.2 7.7 12.4 -3.4 10.1 14.6 12.4 2.7 8.1 11.9 17.5 8.3 6.2 48 49 Security credit Trade debt Deferred and unpaid life insurance premiums 2.8 0.8 8.4 2.4 -2.3 3.1 18.9 3.1 6.7 2.3 -16.3 4.8 1.7 2.5 -1.0 16.1 -3.7 11.3 16.3 -4.7 -1.8 7.2 22.7 48 3.1 49 0.8 0.6 -1.0 0.1 -1.3 1.2 0.4 0.8 0.1 -.7 6.2 -50.7 -1.2 -45.6 -83.2 -71.3 -46.4 -112.7 -89.0 -39.6 -62.2 -18.0 SI 50 51 Discrepancy * 0.9 50 (1) Supplementary tables (F.100.a and L.100.a) at the end of the release show estimates of annual flows and year-end outstandings of nonprofit organizations. (2) See table F.8 for derivation of alternative personal saving measures. Memo: Net physical Investment: 52 53 54 55 56 57 58 59 60 61 (A) Residential construction expenditures - Capital consumption 3 Net investment - Home mortgages 3 Excess net investment (B) Consumer durable goods expenditures - Capital consumption 3 Net investment - Consumer credit 3 Excess net investment BILLIONS OF DOLLARS. 89.0 58.3 30.2 132.4 61.0 71.5 157.1 63.4 93.7 161.5 67.7 93.7 189.6 70.2 119.5 198.5 75.0 123.5 206.8 30.0 126.7 206.8 92.1 114.6 191.5 93.2 98.3 173.1 97.4 75.7 205.5 111.6 94.0 230.3 52 107.1 53 123.1 54 46.0 -15.8 108.1 -36.6 128.1 -34.3 161.3 -67.6 196.5 -77.1 234.2 -110.7 227.9 -101.2 217.6 -103.0 179.0 -80.7 159.2 -83.5 174.4 -80.4 178.2 55 -55.1 56 236.5 214.1 22.4 275.0 224.4 50.6 317.9 236.1 81.8 353.0 257.1 95.8 389.6 278.2 111.4 403.7 300.8 102.9 437.1 324.5 112.6 459.4 350.4 109.0 468.2 378.1 90.0 456.6 404.4 52.2 492.7 430.1 62.6 538.0 57 449.1 58 88.9 59 16.4 6.0 48.9 1.7 81.7 0.1 82.3 13.6 57.5 53.8 32.9 70.0 50.1 62.5 45.8 63.2 16.0 74.0 -15.0 67.2 5.5 57.1 62.3 60 26.6 61 _MBER 7, jusehold Sector Household Sector F.100 Households and Nonprofit Organization. (1) 10 MALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES 1992 1991 I IV I II 1993 III II IV III IV 1994 I I II III 1 2 4934.2 631.2 5032.4 631.3 5101.9 638.7 5148.1 648.1 5335.0 676.2 5255.5 657.4 5364.5 685.9 5395.9 695.4 5484.6 707.0 5555.8 723.1 5659.9 746.4 5730.3 Personal income 743.8 - Personal taxes and nontaxes 1 2 3 4 5 4303.0 4078.4 224.6 4401.1 4166.4 234.7 4463.2 4219.5 243.7 4500.0 4274.2 225.8 4658.8 4371.4 287.4 4598.1 4413.7 184.4 4678.6 4464.6 214.0 4700.5 4518.3 182.2 4777.6 4588.1 189.5 4832.7 4657.2 175.5 4913.5 4712.4 201.1 4986.5 - Disposable personal Income 4788.1 - Personal outlays 198.4 = Personal saving, NIPA (2) 3 4 5 6 7 8 9 71.7 51.1 533.2 880.6 116.9 55.6 554.0 961.2 81.1 54.8 559.1 938.8 122.2 56.0 600.5 1004.5 75.8 83.9 554.1 1001.2 50.8 71.1 572.4 878.7 132.4 86.8 571.6 1004.3 104.5 87.3 606.5 980.5 151.7 110.4 582.1 1033.7 98.6 71.9 662.5 1008.4 118.4 100.7 615.4 1035.6 120.3 104.6 625.7 1049.0 Govt, insur. 8 pension res. Net inv. in cons, durables Capital consumption allow. Gross saving 6 7 8 9 10 11 12 13 14 884.8 680.4 182.4 461.2 36.8 1049.8 709.9 192.8 480.1 37.1 1006.1 724.7 204.3 483.3 37.1 1046.0 739.8 206.5 495.7 37.6 1052.5 769.0 218.7 511.6 38.7 905.9 780.2 224.3 516.1 39.7 1132.1 794.2 222.3 531.2 40.8 962.8 811.6 228.3 541.9 41.3 968.9 850.3 246.1 562.8 41.4 1145.5 875.0 255.6 576.2 43.2 1128.4 886.3 261.7 580.3 44.3 970.5 Gross investment 899.2 Capital expend, net of sales 260.9 Residential construction 592.3 Consumer durable goods 46.0 Nonprofit plant and equip. 10 11 12 13 14 15 16 204.4 460.1 339.9 566.3 281.4 430.6 306.2 575.4 283.6 531.4 125.8 325.0 337.9 609.4 151.3 560.5 118.7 502.9 270.5 581.6 242.1 552.5 71.3 437.7 Net financial investment 15 Net acq. of financial assets 16 17 18 19 20 21 -139.4 48.4 -101.0 -77.2 -9.6 80.8 176.1 -42.1 -22.8 -30.5 -73.0 44.9 -71.3 -68.8 22.2 -62.9 159.4 -96.4 -26.9 -99.1 -62.0 114.8 -48.8 -67.9 -60.0 -175.7 61.9 -136.1 -47.7 -53.7 139.1 127.4 -55.2 12.4 54.5 -71.6 71.2 -79.9 -25.4 -37.4 26.9 51.5 -3.8 -16.6 -4.2 107.8 90.8 59.9 -1.9 -41.0 26.8 35.0 -8.6 -13.3 13.7 -2.6 -14.8 -61.1 50.1 23.3 Deposits 17 Checkable dep. and curr. 18 Small time and svgs.dep. 19 Large time deposits 20 Money mkt. fund shares 21 22 23 24 25 26 27 28 29 30 31 -54.5 -104.4 -149.6 11.0 -160.7 45.2 33.2 -3.0 8.1 11.7 131.9 228.1 195.4 15.6 179.8 32.3 5.1 0.6 20.0 -72.0 43.7 40.7 47.8 13.4 34.5 -7.1 -24.7 -29.0 6.2 50.4 -54.7 67.1 -12.5 19.9 -32.3 79.6 -20.5 -37.3 -17.0 -47.0 112.0 67.5 -24.1 27.8 -51.9 91.6 -98.9 46.6 7.3 89.6 -74.3 -5.4 16.0 25.4 -9.5 -21.3 22.6 1.5 18.5 -112.0 -75.6 -79.6 123.2 11.6 111.6 -202.8 15.4 15.7 15.3 -42.9 -69.7 -52.5 -9.7 10.2 -19.9 -42.8 -45.9 -5.8 -9.7 44.2 181.3 158.4 52.5 11.3 41.2 105.8 -56.0 93.4 17.3 -31.3 462.2 481.5 238.2 12.3 225.9 243.4 -26.7 78.5 8.3 -79.4 412.3 422.2 172.3 8.5 163.8 249.9 -20.9 67.0 32.7 -88.7 316.4 330.2 198.7 6.0 192.8 131.4 -48.3 9.5 -11.9 36.9 Credit mkt. instruments U.S. govt, securities Treasury Savings bonds Other Agency Tax-exempt securities Corporate and fgn. bonds Mortgages Open market paper 22 23 24 25 26 27 28 29 30 31 32 33 142.5 -34.7 135.4 0.5 127.4 74.2 183.1 88.6 140.0 11.8 158.7 2.2 203.5 -17.9 214.9 5.4 170.3 -103.8 89.9 -94.4 99.0 -13.2 90.9 -156.5 Mutual fund shares Corporate equities 32 33 34 35 36 19.2 415.5 7.9 29.6 180.3 -.3 15.6 233.4 -10.2 37.5 317.1 -12.0 26.3 267.9 -6.0 38.6 331.7 -4.2 35.3 333.7 -7.2 46.6 359.9 0.1 20.5 193.6 17.6 20.0 -18.8 15.4 8.1 64.3 -15.5 23.8 197.8 6.7 Life insurance reserves Pension fund reserves Inv. in bank pers. trusts 34 35 36 37 38 39 15.6 73.5 14.7 3.5 -61.0 15.8 28.4 -26.7 17.8 9.1 51.7 18.0 32.8 -7.7 16.3 -6.6 41.1 14.1 -14.8 1.3 12.2 6.2 51.3 17.1 -25.8 12.8 8.9 -45.8 30.6 14.7 -47.2 5.8 12.0 -39.9 -19.3 20.5 Equity in noncorp. bus. Security credit Miscellaneous assets 37 38 39 40 41 42 43 255.7 218.1 201.8 -10.3 226.4 238.6 228.4 -4.6 149.1 121.0 87.5 -15.0 269.1 261.6 222.3 12.0 247.8 249.6 159.4 29.6 199.2 16 7.5 115.4 20.3 271.5 264.1 187.9 41.6 409.2 368.5 230.8 76.2 384.2 337.7 178.7 111.3 311.1 299.4 174.3 72.7 310.4 303.6 138.9 121.9 366.4 370.5 193.5 127.1 Net increase in liabilities Credit market instruments Home mortgages Consumer credit 40 41 42 43 44 45 46 47 8.6 23.2 -13.6 8.4 10.7 11.8 -13.9 6.1 18.8 8.7 12.2 8.7 12.3 25.6 -19.9 9.2 16.7 3.5 32.2 8.2 7.4 10.3 8.3 5.7 17.1 30.8 -17.5 4.3 16.9 12.7 24.5 7.5 6.3 16.2 18.0 7.2 16.3 0.2 29.2 6.6 16.9 13.0 5.6 7.2 10.3 9.5 18.4 11.7 48 49 40.0 -1.9 -15.4 3.5 20.4 7.8 -2.0 9.4 -10.3 8.2 23.4 7.7 -1.5 7.9 31.5 8.2 37.2 8.4 2.2 3.6 -3.0 8.8 -14.0 9.1 50 -.6 -.3 -.1 0.1 0.3 0.6 0.9 1.0 0.9 0.9 0.9 51 -4.1 -88.6 -67.3 -41.5 -51.3 -27.2 -127.3 17.7 64.7 -137.1 -92.8 0.9 * * + = Tax-exempt debt Commercial mortgages Sank loans n.e.c. Other loans 44 45 46 47 Security credit Trade debt Deferred and unpaid life insurance premiums 48 49 78.6 Discrepancy 50 51 (1) Supplementary tables (F.IOO.a and L.IOO.a) at the end of the release show estimates of annual flows and year-end outstandings of nonprofit organizations. (2) See table F.8 for derivation of alternative personal saving measures. Memo: Net physical Investment: 52 53 54 182.4 98.8 83.5 192.8 105.2 87.5 204.3 106.2 98.1 206.5 133.4 73.1 218.7 101.5 117.2 224.3 100.8 123.6 222.3 100.6 121.6 228.3 124.6 103.7 246.1 102.5 143.5 255.6 127.5 128.1 261.7 106.7 154.9 (A) Residential construction 260.9 expenditures - Capital consumption 108.5 152.4 = Net investment 55 56 201.8 -118.3 228.4 -140.8 87.5 10.5 222.3 -149.2 159.4 -42.2 115.4 8.2 187.9 -66.3 230.8 -127.1 178.7 -35.2 174.3 -46.2 138.9 16.1 193.5 -41.2 57 58 59 461.2 410.1 51.1 480.1 424.5 55.6 483.3 428.5 54.8 495.7 439.7 56.0 511.6 427.7 83.9 516.1 445.0 71.1 531.2 444.4 86.8 541.9 454.6 87.3 562.8 452.4 110.4 576.2 504.3 71.9 580.3 479.6 100.7 (B) Consumer durable goods expenditures 592.3 - Capital consumption 487.7 = Net investment 104.6 60 61 -10.3 61.4 -4.6 60.2 -15.0 69.8 12.0 44.0 29.6 54.3 20.3 50.9 41.6 45.3 76.2 11.1 111.3 -.9 72.7 -.9 121.9 -21.2 127.1 -22.4 BILLIONS OF DOLLARS. - Home mortgages = Excess net investment - Consumer credit = Excess net investment 52 53 54 55 56 57 58 59 60 61 DECEMBER 7, 1994 Nonfinancial Business Nonfinancial Business F.101-F.103 Nonfinancial Business 11 ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 F.101 All Nonfinancial Business 1 Income before taxes 2 Gross savins 330.0 334.1 371.8 381.4 458.6 428.8 460.7 448.4 463.3 437.1 551.4 480.5 612.5 514.6 612.6 518.1 627.6 534.2 625.7 551.1 671.8 566.0 713.4 592-1 1 2 3 Gross Investment 4 Capital expenditures Fixed investment 5 Residential construction 6 Plant and equipment 7 Chanse in inventories 8 9 Mineral rts. from U.S. sovt. 345.7 367.6 382.6 16.6 366.0 -16.0 1.0 347.2 362.1 366.4 19.6 346.8 -5.6 1.3 412.8 498.9 426.8 21.7 405.0 71.1 1.0 421.7 484.5 459.5 24.4 435.2 24.6 0.4 399.9 450.9 441.5 26.8 414.7 8.7 0.8 408.1 465.8 439.4 26.6 412.8 26.3 0.2 456.2 494.2 477.7 25.2 452.5 16.2 0.3 459.7 522.0 488.5 24.0 464.5 33.3 0.2 487.4 513.4 506.3 23.6 482.7 6.9 0.2 514.7 472.0 473.9 16.3 457.6 -1.8 -.1 533.3 476.1 473.1 17.9 455.3 3.0 - 558.1 536.5 521.1 19.7 501.5 15.4 3 4 5 6 7 8 9 10 11 Net financial investment Net acq. of financial assets -21.9 72.4 -15.0 150.5 -86.1 152.1 -62.7 140.4 -51.0 200.8 -57.7 146.8 -38.0 228.7 -62.3 138.0 -26.0 101.5 42.7 53.0 57.1 159.9 12 13 14 15 16 17 18 19 20 21 22 23 24 Net increase in liabilities Corporate equities Credit market instruments Tax-exempt debt Corporate bonds Mortsases Bank loans n.e.c. Commercial paper Other loans Trade debt Taxes payable Miscellaneous liabilities Proprietor net investment 94.2 1.9 146.0 15.1 30.7 43.8 51.0 -6.1 11.5 9.4 -2.8 25.0 -85.2 165.5 20.0 157.1 9.4 26.0 66.5 21.7 -.8 34.2 36.9 4.9 25.2 -78.6 238.3 -79.0 309.1 20.5 48.1 87.4 68.1 21.7 63.4 38.5 4.6 39.1 -74.1 203.1 -84.5 278.0 22.6 83.2 94.4 33.7 14.6 29.4 36.8 0.3 34.5 -62.0 251.8 -85.0 315.3 -9.9 127.1 101.0 57.3 -9.3 49.0 15.0 5.4 40.8 -39.7 204.5 -75.5 228.7 -.9 78.8 91.4 12.6 1.6 45.3 46.2 5.7 63.1 -63.6 266.6 -129.5 274.8 0.2 103.1 62.5 42.1 11.9 55.0 64.2 4.6 82.8 -30.3 200.3 -124.2 233.1 -.9 73.8 44.5 37.8 21.4 56.4 38.0 1.5 82.2 -30.3 127.4 -63.0 123.7 -.3 47.1 5.1 6.9 9.7 55.3 31.9 -4.4 61.2 -22.0 10.3 18.3 -35.9 -1.2 78.3 -10.1 -37.5 -18.4 -47.5 8.5 -7.7 40.5 -13.3 102.8 27.0 -2.0 67.5 -62.9 -16.5 8.6 1.3 32.4 7.9 25.5 12.0 -11.7 34.2 16.0 26.7 37.1 72.4 58.4 58.4 46.7 36.4 32.8 34.0 25 25 Discrepancy X « 21.6 10 92.5 11 70.9 21.3 21.9 -.1 75.2 -40.1 -3.3 10.0 -19.9 34.3 2.7 8.2 -17.6 12 13 14 15 16 17 18 19 20 21 22 23 24 F.102 Farm Business (1) 1 Proprietor net income w/IVA 8 CCAdj. 2 Net savins (corporate) 3 Capital consumption allow. Corporate 4 Noncorporate 5 6 Gross savins 13.4 2.4 21.3 21.5 22.3 31.3 30.9 40.3 42.0 36.7 44.4 37.3 1 0.5 22.9 1.6 21.3 23.4 0.6 23.3 1.7 21.6 23.9 0.7 23.4 1.7 21.7 24.0 0.9 23.0 1.7 21.4 23.9 0.6 22.7 1.7 21.0 23.3 0.9 22.2 1.6 20.5 23.1 1.4 21.8 1.6 20.1 23.1 1.8 21.9 1.7 20.3 23.8 2.2 21.6 1.6 19.9 23.8 1.6 21.5 1.7 19.8 23.1 0.3 21.9 2.0 19.9 22.7 0.4 21.5 2.2 19.3 21.9 2 3 4 5 6 7 Gross investment 8 Capital expenditures 9 Residential construction 10 Plant and equipment Chanse in inventories 11 23.4 19.6 1.9 12.0 5.8 23.9 -1.9 1.5 11.9 -15.4 24.0 19.5 1.6 12.2 5.7 23.9 17.7 1.6 10.4 5.8 23.3 9.3 2.0 8.8 -1.4 23.1 6.7 2.5 10.6 -6.4 23.1 1.9 2.3 10.9 -11.3 23.8 15.8 1.7 12.6 1.5 23.8 19.0 2.2 13.7 3.1 23.1 13.5 1.3 12.8 -.6 22.7 19.2 1.3 12.3 5.7 21.9 7 10.5 8 1.3 9 14.0 10 -4.7 11 14.0 4.3 1.1 3.2 3.8 -.6 16.4 1.8 -.2 2.0 2.5 -.5 21.2 3.3 0.5 2.8 2.8 0.1 8.0 2.2 0.1 2.1 2.9 -.9 4.8 2.5 0.4 2.0 2.2 -.2 9.6 2.2 1.0 1.3 1.1 0.2 3.5 3.8 1.8 2.0 2.1 -.1 11.4 3.2 1.7 1.5 1.4 O.i 12 13 14 15 16 17 -8.2 2.0 0.5 2.1 -.6 18 19 20 21 22 12 13 14 15 16 17 Net financial Investment Net acq. of financial assets Checkable dep. 2 currency Miscellaneous assets Insurance receivables Equity in GSEs (2) 3.8 1.9 0.2 1.7 1.3 0.4 25.8 1.4 0.3 1.1 1.0 0.1 4.5 0.3 0.2 0.1 0.1 6.1 3.6 0.7 2.9 3.2 -.3 13 19 20 21 22 Net increase in liabilities Credit market instruments Mortgages Bank loans n.e.c. Other loans -1.9 6.7 4.1 3.2 -.6 -24.4 3.9 2.4 2.8 -1.3 -4.2 -.4 -1.2 1.0 -.1 -2.5 -14.5 -6.6 -4.4 -3.5 -9.7 -16.9 -10.1 -4.3 -2.5 -14.5 -11.1 -6.9 -2.2 -2.0 -17.9 -10.2 -4.8 0.8 -6.2 -5.8 0.6 -2.5 1.0 2.1 -2.3 2.3 -.3 2.1 0.5 -7.4 2.1 0.4 1.7 X 0.3 1.0 l.l 0.1 -.2 Trade debt Proprietor net investment 0.7 -9.4 -.6 -27.7 -.9 -2.9 -2.6 14.5 -2.9 10.1 -1.2 -2.2 0.3 -8.5 0.5 -6.9 0.5 -5.1 0.2 -9.7 0.2 -.9 23 24 X 1.0 23 -11.2 24 (1) Includes corporate and noncorporate farms. F.103 Nonfarm Noncorporate Business 1 Net income w/ IVA and CCAdj 2 Gross svg. = capital consump. 183.5 63.1 213.4 65.2 248.2 68.4 273.6 72.7 292.0 77.1 307.9 81.5 325.6 87.2 339.9 94.7 354.4 98.8 377.8 102.0 375.3 105.0 383.9 107.8 1 2 63.1 69.3 70.3 13.3 56.5 -1.0 65.2 70.1 69.6 16.8 52.8 0.5 68.4 87.8 84.3 18.6 66.2 3.0 72.7 96.5 95.6 21.0 74.6 0.9 77.1 97.4 97.0 23.0 74.0 0.5 81.5 97.7 96.1 22.3 73.8 1.6 87.2 101.2 99.9 21.2 78.7 1.3 94.7 105.1 103.5 20.7 82.8 1.6 98.8 91.5 91.4 20.0 71.3 0.2 102.0 78.8 78.8 14.0 64.9 -.1 105.0 70.9 71.1 15.3 55.7 -.1 107.3 85.6 84.6 17.0 67.6 1.0 3 4 5 6 7 8 -6.1 5.9 3.5 3.4 -.1 4.6 8.0 -13.5 2.0 * -15.6 -4.8 32.7 8.2 13.6 2.8 4.3 7.4 -3.7 -4.6 * 0.9 -19.4 48.0 4.8 13.3 -.5 10.0 6.9 13.5 11.0 -23.9 39.8 11.5 11.5 0.3 4.7 4.5 7.4 4.8 -16.2 14.1 2.5 -1.8 -.4 -5.6 8.7 10.7 6.7 4.0 -10.4 27.5 4.3 8.6 1.4 -2.2 7.8 7.7 3.8 0.1 3.8 7.3 13.2 -.5 0.7 1.0 -2.7 5.0 9.6 6.0 -.1 3.7 34.1 14.3 5.5 -.8 0.6 -1.7 7.0 3.8 3.9 2.6 -14.0 40.6 7.7 9.3 0.5 2.3 12.1 8.8 4.8 4.0 23.3 -4.8 0.1 -3.4 -.1 -3.6 -2.9 5.2 2.1 2.4 -20.4 39.1 6.0 11.2 1.2 2.7 6.7 11.3 5.4 -.1 6.0 3.0 -.1 22.2 6.3 2.0 -3.0 1.4 -4.7 9.0 1.6 2.7 0.2 -1.3 9 10 11 12 13 14 15 16 17 18 19 20 3 Gross investment 4 Capital expenditures Fixed investment 5 6 Residential construction 7 Plant and equipment 8 Change in inventories 9 10 11 12 13 14 15 16 17 18 19 20 Net financial investment Net acq. of financial assets Checkable dep. and curr. Time deposits Treasury securities Consumer credit Mortgages Trade credit Miscellaneous assets Insurance receivaoles Equity in GSEs (2) Other 21 22 23 24 25 Net increase in liabilities Credit market instruments Mortgages Bank loans n.e.c. Other loans 12.1 71.2 75.3 -9.5 4.9 37.5 72.2 63.4 -.5 9.2 67.4 111.6 83.8 16.8 11.0 63.7 123.3 109.1 6.2 8.0 59.4 99.1 78.3 11.9 8.9 30.3 75.0 60.7 6.1 8.1 54.6 60.4 45.7 4.4 10.3 37.9 40.3 33.4 2.6 4.3 5.9 10.1 9.2 2.9 -2.0 -28.1 -28.5 -10.8 -14.3 -3.4 -19.8 -43.9 -36.5 -4.5 -2.9 -16.0 -26.0 -25.3 -2.2 1.6 21 22 23 24 25 26 27 23 29 Taxes payable Trade debt Miscellaneous liabilities Proprietor net investment 1.5 3.8 11.5 -75.9 1.8 0.5 14.0 -50.9 1.1 5.7 20.3 -71.2 3.4 5.4 8. 1 -76.5 1.7 4.2 4.2 -49.8 0.6 7.5 8.6 -61.4 2.9 4.2 8.8 -21.8 4.7 7.0 9.4 -23.4 0.6 2.1 9.9 -16.9 0.5 -4.0 7.6 -3.6 0.6 2.1 8.5 12.9 0.7 7.4 8.3 -6.3 26 27 28 29 X (2) Equity in the Farm Credit System. BILLIONS OF DOLLARS. X X X X X DECEMBER 7, 1994 Nonfinancial Business Nonfinancial Business F.101-F.103 Nonfinancial Business 12 SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES 1991 | IV | 1992 I II III I 1 IV 1993 I II IV III I I 1994 II I III F.101 All Nonfinancial Business 1 2 633.2 558.3 661.5 552.0 677.7 551.2 646.3 587.4 701.8 573.5 703.6 572.1 716.4 583.4 680.2 591.2 753.5 621.6 741.3 649.2 770.5 639.3 762.6 Income before taxes 644.7 Gross savins 1 2 3 4 5 6 7 6 9 536.4 475.4 461.0 16.2 444.8 14.4 - 523.5 452.2 458.5 16.8 441.7 -6.3 - 509.1 481.3 477.4 17.6 459.8 3.9 - 578.8 483.9 478.7 17.7 461.0 5.2 - 521.6 487.0 477.7 19.2 458.5 9.3 - 554.8 519.5 499.5 19.3 480.3 20.0 -.1 565.0 535.6 517.2 19.3 497.9 18.6 -.2 540.6 535.2 520.9 20.0 501.0 13.9 0.4 572.0 555.8 546.9 20.2 526.7 9.0 -.1 644.4 591.4 567.3 20.8 546.5 24.1 - 634.5 648.0 580.6 21.0 559.6 67.4 - 626.3 Gross investment 668.9 Capital expenditures 607.3 Fixed investment 21.4 Residential construction 585.9 Plant and equipment 61.6 Chans* in inventories Mineral rts. from U.S. sovt. - 3 4 5 6 7 8 9 10 11 61.0 72.0 71.3 167.9 27.8 159.0 94.8 148.0 34.6 164.6 35.3 8.0 29.4 98.1 5.4 115.7 16.3 148.0 53.0 187.9 -13.5 147.8 -42.5 128.2 12 13 14 15 16 17 18 19 20 21 22 23 24 11.1 48.0 -118.5 -5.2 60.2 -44.4 -58.4 -7.5 -63.3 20.5 -4.8 59.7 6.1 96.7 46.0 13.3 -3.2 76.5 -44.3 -17.0 10.3 -9.0 32.7 10.8 -9.8 3.7 131.2 36.0 2.2 -1.4 77.8 -43.8 -32.7 -2.0 4.3 39.5 3.7 28.7 21.0 53.2 12.0 -25.4 -1.0 61.7 -87.2 -3.2 4.0 0.3 23.1 8.0 32.7 2.7 130.0 14.0 1.9 5.4 54.0 -76.4 -13.1 22.3 9.6 34.3 9.1 50.3 20.4 -27.3 8.2 -11.6 -4.3 85.7 -25.9 -24.5 -14.1 -28.5 35.2 5.5 -44.0 -20.5 68.7 23.2 26.7 -.6 75.7 -66.5 17.3 33.2 -32.4 34.3 6.2 -3.9 -17.9 110.3 32.3 24.1 1.3 72.0 -21.4 -16.6 17.2 -28.5 35.7 -4.9 31.9 -8.8 1-31.8 21.5 48.2 3.3 67.4 -46.4 10.4 3.8 9.8 32.1 4.0 48.8 -23.0 134.8 -9.6 131.4 -4.4 35.1 -23.0 45.0 8.0 70.7 22.1 12.2 21.8 -43.1 161.4 -2.0 144.7 0.2 38.9 10.3 67.4 16.4 11.6 67.6 -1.2 -7.0 -40.8 170.7 -50.0 156.4 -3.8 24.6 16.4 75.2 33.8 10.3 46.9 5.7 49.4 -37.8 25 22.0 28.4 42.0 8.6 51.9 17.3 18.4 50.5 49.5 4.8 4.8 Net financial investment 10 Net acq. of financial assets 11 Net increase in liabilities Corporate equities Credit market instruments Tax-exempt debt Corporate bonds Mortsases Bank loans n.e.c. Commercial oaper Other loans Trade debt Taxes payable Miscellaneous liabilities Proprietor net investment 18.3 Discrepancy 12 13 14 15 16 17 18 19 20 21 22 23 24 25 F.,102 Farm Business (1) 1 36.6 49.0 43.7 38.8 46.0 49.6 39.4 15.8 44.4 47.2 39.3 2 3 4 5 6 1.2 21.6 1.8 19.8 22.8 1.0 21.8 1.9 19.9 22.8 0.8 22.0 2.0 20.0 22.8 0.6 22.0 2.0 20.0 22.6 0.7 21.8 2.1 19.7 22.5 0.4 21.6 2.1 19.5 22.0 0.6 21.4 2.2 19.2 21.9 0.4 21.4 2.2 19.2 21.8 0.4 21.6 2.2 19.4 22.1 0.3 21 .8 2.2 19.6 22.2 0.3 21.9 2.2 19.8 22.3 29.8 Proprietor net income w/IVA & CCAdj. 0.3 Net savins (corporate) 22.1 Capital consumption allow. 2.2 Corporate 20.0 Noncorporate 22.4 Gross savins 2 3 4 5 6 7 8 9 10 11 22.8 11.0 l.l 12.3 -2.3 22.8 24.1 1.1 13.1 9.9 22.3 20.3 1.2 11.8 7.2 22.6 17.6 1.3 11.6 4.7 22.5 14.8 1.3 12.6 0.9 22.0 12.9 1.3 13.2 -1.6 21.9 10.1 1.2 14.2 -5.3 21.8 5.1 1.2 14.1 -10.3 22.1 14.0 1.4 14.3 -1.7 22.2 19.7 1.6 16.4 1.8 22.3 25.3 1.5 16.8 7.0 22.4 Gross investment 28.3 Capital expenditures 1.6 Residential construction 17.5 Plant ano equipment 9.3 Chanse in inventories 7 8 9 10 11 12 13 14 15 16 17 11.8 2.5 0.8 1.8 1.3 0.4 -1.3 3.4 1.8 1.6 1.8 -.2 2.5 3.6 1.8 1.3 2.2 -.4 5.0 4.5 1.8 2.6 2.3 0.4 7.7 3.8 1.9 1.9 1.9 - 9.1 3.5 1.7 1.8 1.6 0.3 11.8 3.1 1.7 1.5 1.3 0.2 16.7 2.9 1.7 1.3 1.2 X 8.0 3.1 1.7 1.5 1.5 2.4 3.5 1.7 1.9 1.7 0.2 -3.1 3.6 1.7 1.9 1.9 0.1 -5.9 3.8 1.7 2.2 2.1 0.1 Net financial investment Net acq. of financial assets Checkable dep. 3 currency Miscellaneous assets Insurance receivables Equity in GSEs (2) 12 13 14 15 16 17 18 19 20 21 22 -9.3 -.4 0.9 0.8 -2.1 4.7 -.2 -.6 0.4 X 1.1 5.1 2.7 1.8 0.6 -.5 1.6 2.8 -.4 -.8 -3.9 -2.4 -.5 -1.5 -.4 -5.6 -2.3 0.2 -.6 -1.9 -8.7 2.7 1.0 1.8 -.1 -13.8 4.1 0.4 3.8 -.1 -4.9 3.6 0.2 3.6 -.2 1.1 3.1 0.8 1.9 0.4 6.6 11.8 6.0 6.0 -.2 9.7 3.6 3.7 2.2 -2.3 Net increase in liabilities Credit market instruments Mortsases Bank loans n.e.c. Other loans 18 19 20 21 22 23 24 0.2 -9.0 0.2 4.6 0.1 -4.1 0.2 -2.3 0.5 -1.9 1.0 -4.3 1.0 -12.4 1.0 -18.8 1.0 -9.5 1.0 -3.0 1.0 -6.1 1.0 5.1 Trade debt Proprietor net investment 23 24 (1) 1 Includes corporate and noncorporate farms. F.103 Nonfarm Noncorporate Business 1 2 380.0 106.4 381.1 94.9 376.6 95.5 358.6 124.1 384.9 105.5 385.9 113.7 384.6 110.8 379.9 93.0 385.1 113.8 362.7 124.2 376.8 116.7 368.1 Net income w/ IVA and CCAdj 119.1 Gross svg. = capital consump. 1 2 3 4 5 6 7 8 106.4 77.3 76.4 14.0 62.4 0.8 94.9 66.0 66.8 14.5 52.3 -.8 95.5 71.8 72.0 15.2 56.8 -.2 124.1 72.3 72.3 15.1 57.2 X 105.5 73.6 73.2 16.5 56.7 0.4 113.7 81.9 80.8 16.6 64.2 1.1 110.8 84.0 82.3 16.7 66.1 1.2 93.0 86.0 84.8 17.3 67.5 1.2 113.8 90.5 90.0 17.3 72.7 O.S 124.2 96.9 95.8 17.8 78.0 1.1 116.7 102.0 98.1 18.0 80.1 3.8 119.1 Gross investment 105.3 Capital expenditures 101.5 Fixed investment 18.3 Residential construction 83.2 Plant and eauipment Change in inventories 3.8 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 29.1 -3.8 0.4 -4.8 0.3 -3.9 -1.3 5.0 2.6 0.2 2.3 28.9 13.8 5.3 -.3 0.3 -1.6 6.0 4.2 3.5 -.1 0.8 23.7 15.9 5.3 -.2 0.7 -1.6 7.0 4.3 4.3 0.5 51.8 15.0 5.5 -.4 0.7 -1.7 7.0 3.9 4.4 X -.5 31.9 12.5 5.7 -2.4 0.7 -2.0 8.0 2.4 3.7 -1.2 31.8 3.2 1.1 -5.0 1.4 -4.4 8.1 2.0 3.0 0.2 -1.2 26.8 6.1 2.0 -2.8 1.4 -4.6 8.8 1.3 2.4 X -1.1 6.9 6.9 2.1 -2.3 1.4 -4.7 9.2 1.2 2.4 0.2 -1.4 23.3 8.9 2.8 -2.0 1.4 -4.9 9.8 1.8 2.9 0.2 -1.3 27.2 10.1 3.0 -.9 1.4 -5.1 9.6 2.0 3.3 0.2 -1.5 14.7 13.0 3.5 -.6 1.5 -3.2 9.6 2.2 3.6 0.2 -1.6 13.8 13.4 4.0 0.4 1.5 -3.4 9.6 1.3 3.0 X -1.7 Net financial investment Net acq. of financial assets Checkable dep. and curr. Time deposits Treasury securities Consumer credit Mortgages Trade credit Miscellaneous assets Insurance receivables Equity in GSEs (2) Other 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 -33.0 -53.2 -28.2 -20.4 -4.6 -15.0 -22.1 -18.7 -4.0 0.7 -7.8 -45.3 -29.5 -10.6 -5.3 -36.8 -54.3 -48.3 -2.5 -3.5 -19.4 -53.9 -49.6 -1.0 -3.3 -28.6 -28.6 -20.4 -7.8 -.4 -20.7 -33.4 -37.2 6.2 -2.4 -.1 -26.2 -18.0 -10.7 2.5 -14.4 -15.6 -25.6 3.3 6.7 -17.1 8.4 -15.2 8.3 15.3 -1.7 16.5 4.6 9.7 2.2 -.4 26.9 7.1 12.3 7.5 Net increase in liabilities Credit market instruments Mortgages Bank loans n.e.c. Other loans 21 22 23 24 25 26 27 28 29 0.4 -4.0 8.6 15. 1 0.6 -1.4 8.7 -.9 0.6 3.2 8.6 25.1 0.6 3.2 8.6 5.0 0.7 3.2 8.3 22.3 0.7 7.4 8.2 -16.3 0.7 10.0 7.5 -5.5 0.7 6.0 9.5 10.0 0.7 6.0 7.9 -13.5 0.7 4.0 9.8 -40.1 0.8 6.8 8.9 -34.6 0.8 4.9 9.9 -42.9 Taxes payable Trade debt Miscellaneous liabilities Proprietor net investment 26 27 28 29 (2, Equity in the Farm Credit System. BILLIONS OF DOLLARS. DECEMBER 7, 1994 Nonfinancial Corporations Nonfinancial Corporations F.104 Nonfarm Nonfinancial Corporata Business ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 Profits before tax (book) - Profit tax accruals - Dividends « U.S. undistributed profits 133.0 46.2 56.2 30.6 156.0 59.3 66.2 30.5 189.0 73.4 69.2 46.4 165.5 69.7 74.1 21.7 149.0 75.2 75.9 -2.1 212.1 93.1 77.7 41.3 256.1 101.3 81.1 73.6 232.4 99.1 101.2 32.2 231.3 93.4 117.4 20.5 211.3 82.7 123.9 4.7 252.2 87.4 135.0 29.6 292.3 116.3 158.5 17.5 1 2 3 4 5 + Capital consumption adj. 6 + Depreciation charges, NIPA 7 « U.S. internal funds, book -12.4 227.5 245.7 11.4 240.1 282.0 28.1 246.1 320.7 54.1 256.0 331.9 43.6 269.2 310.8 45.1 279.2 365.6 43.0 295.1 411.7 37.4 314.8 384.3 32.8 326.6 379.8 29.4 338.6 372.6 28.4 349.3 407.5 42.6 357.6 417.7 5 6 7 8 + Fgn. earnings ret. abroad 9 + Inv. valuation adjustment 10 « Total internal funds + IVA 11.8 -10.0 247.5 18.8 -8.5 292.3 19.7 -4.1 336.3 19.8 0.3 351.9 16.2 9.8 336.7 24.8 -14.5 375.9 19.9 -27.3 404.3 32.8 -17.5 399.6 42.8 -11.0 411.6 47.6 5.8 426.0 37.3 -6.5 438.4 50.8 -6.2 9 462.3 10 11 Gross Investment 12 Capital expenditures (1) Fixed Investment 13 Residential construction 14 Plant and equipment 15 Inventory change + IVA 16 Mineral rts. from U.S. govt. 17 259.2 278.8 298.5 1.0 297.5 -20.7 1.0 258.1 294.0 283.4 1.3 282.1 9.4 1.3 320.3 391.6 328.2 1.5 326.7 62.3 1.0 325.2 370.2 351.9 1.7 350.2 18.0 0.4 299.5 344.2 333.8 1.8 332.0 9.6 0.8 303.6 361.5 330.2 1.8 328.4 31.1 0.2 345.9 391.0 364.5 1.6 362.9 26.2 0.3 341.2 401.1 370.7 1.6 369.1 30.2 0.2 364.8 402.8 399.0 1.4 397.6 3.6 0.2 389.7 379.8 381.0 1.1 379.9 -1.1 -.1 405.6 386.0 388.5 1.3 387.3 -2.5 - 428.4 440.4 421.3 1.4 419.9 19.1 18 19 Net financial investment Net acq. of financial assets -19.6 64.6 -35.9 116.4 -71.2 103.8 -45.0 97.0 -44.7 157.5 -57.9 130.9 -45.1 184.8 -59.9 108.3 -38.0 85.9 9.9 55.6 19.6 141.8 -12.0 18 83.0 19 20 21 22 23 24 25 26 27 28 29 30 31 Liquid assets Checkable dep. and curr. Small time & svgs. dep. Large time deposits Money mkt. fund shares Security RPs Foreign deposits U.S. govt, securities Treasury Agency Tax-exempt securities Commercial paper 45.8 7.9 2.8 8.5 0.6 8.7 -2.9 10.3 10.2 0.1 0.1 9.9 52.4 20.8 2.9 8.7 -7.9 6.2 8.3 8.0 8.0 0.7 4.7 44.4 29.1 0.9 2.8 4.9 0.5 -1.3 4.2 4.3 -.1 -.1 3.4 47.3 26.5 1.5 4.5 -1.5 7.0 9.3 -1.1 -1.0 -.1 0.8 0.5 82.6 22.0 1.3 5.9 3.6 9.5 24.5 17.2 17.3 -.1 3.1 -4.4 45.5 18.8 0.7 3.4 0.8 0.8 9.1 3.6 3.7 -.1 2.6 5.7 31.4 -1.5 2.5 11.5 -3.3 8.2 14.9 -2.7 -2.6 -.1 1.5 0.4 57.9 13.9 -.4 -1.8 0.5 -4.1 39.0 6.1 5.7 0.4 -.6 5.4 38.8 8.1 -.9 -3.2 10.2 -5.9 37.5 -7.1 -7.9 0.8 -1.4 1.5 16.6 8.3 1.3 3.8 5.2 -l.S -11.3 10.0 8.4 1.6 1.6 -.8 12.3 -10.4 -.8 -6.7 15.8 -6.5 -6.0 24.7 22.7 2.0 0.6 1.6 -9.3 2.5 1.1 3.1 -2.5 -9.2 -11.7 2.0 -.8 2.8 2.2 3.4 32 33 34 Consumer credit Mutual fund shares Trade credit 0.5 1.1 -15.6 4.6 1.2 51.0 3.0 2.8 47.1 4.1 3.7 39.3 4.5 3.8 25.1 7.0 -2.7 45.3 6.9 -2.7 72.0 2.9 -1.6 43.7 3.3 -1.3 15.2 -4.1 2.7 -2.7 2.4 4.7 31.6 10.5 32 6.8 33 18.0 34 35 36 37 38 39 40 Miscellaneous assets US dir. invest, abr. (2) Insurance receivables Equity in GSEs (3) Inv. in finance co.subs. Other 32.7 10.8 2.7 0.1 1.1 18.1 7.3 8.2 3.5 6.5 12.0 5.1 35.8 21.9 10.7 0.4 -6.2 9.0 5.4 19.1 14.6 29.9 27.8 2.4 -3.3 64.6 -.4 -28.0 6.2 -6.5 43.1 29.3 3.8 0.5 2.2 7.2 90.8 34.3 7.1 1.1 -11.8 41.6 12.1 18.8 0.1 2.1 8.5 77.2 5.8 10.2 1.1 -5.5 2.6 8.7 4.2 0.1 4.7 -15.2 1.7 47.7 57.0 35 41.9 36 4.8 37 38 0.8 39 9.5 40 95.1 41 67.1 42 21.3 43 1 2 3 4 X x X X X X X a X 11 12 13 14 15 16 17 20 21 22 23 24 25 26 27 28 29 30 31 X 41 42 43 Net increase in liabilities Net funds raised in mkts. Net new equity issues 84.1 70.0 1.9 152.3 101.0 20.0 175.0 118.9 -79.0 142.0 84.7 -84.5 202.1 148.1 -85.0 188.8 89.3 -75.5 229.9 95.0 -129.5 168.2 68.0 -124.2 123.9 48.3 -63.0 45.7 8.7 18.3 122.2 67.9 27.0 44 45 46 47 48 49 Credit mkt. instruments Tax-exempt debt (4) Corporate bonds (2) Mortgages Bank loans n.e.c. Commercial paper 68.1 15.1 30.7 -36.1 57.2 -6.1 81.0 9.4 26.0 0.8 19.4 -.8 197.9 20.5 48.1 4.8 50.2 21.7 169.2 22.6 83.2 -8.0 32.0 14.6 233.0 -9.9 127.1 32.8 49.6 -9.3 164.8 -.9 78.8 37.6 8.6 1.6 224.5 0.2 103.1 21.5 36.9 11.9 192.1 -.9 73.8 13.6 34.2 21.4 111.3 -.3 47.1 -3.8 1.8 9.7 -9.6 -1.2 78.8 0.2 -24.9 -18.4 40.9 67.5 -27.5 -12.0 8.6 45.8 -.1 75.2 -15.2 -3.2 10.0 44 45 46 47 48 49 56.8 -6.3 18.7 -.8 -6.6 48.8 3.0 -44.2 -5.3 -.5 -.8 -5.9 -34.1 2.4 4.3 -5.0 2.9 -.1 -2.9 7.2 2.3 -20.9 -.8 -5.3 0.2 -3.3 -19.4 7.7 50 51 52 53 54 55 56 57 58 59 60 61 X 50 51 52 53 54 55 56 Other loans Savings institutions Finance companies U.S. government Accept.liab.to banks Rest of the world ABS issuers 7.3 0.9 0.7 1.3 -.8 5.1 - 26.3 3.0 10.4 -.5 7.0 6.3 - 52.5 4.5 19.5 1.2 2.8 24.6 - 24.9 4.3 16.7 -2.6 -2.1 8.6 - 42.7 5.2 14.8 1.5 -.2 21.4 39.2 0.5 29.3 0.1 4.4 4.8 - 50.9 1.7 25.3 -1.0 25.0 - 49.9 -.9 21.0 -.4 3.2 26.4 0.5 57 58 59 60 61 Taxes payable Trade debt Miscellaneous liabilities Fgn. dir. invest, in US Pen. fund contr. payable -4.3 4.9 13.5 8.1 5.3 3.1 37.0 11.3 3.0 3.3 3.5 33.7 18.9 18.7 0.2 -3.2 34.0 26.4 17.8 8.6 3.8 13.7 36.6 32.1 4.5 5.1 39.9 54.5 52.3 2.2 1.7 59.2 74.0 69.4 4.6 -3.1 30.5 72.8 61 .8 11.0 -5.0 29.3 51.3 55.9 -4.6 -8.2 12.3 32.9 12.0 20.9 7.2 30.1 16.9 9.0 8.0 2.0 26.0 -.1 -9.8 9.8 62 Discrepancy -11.7 34.2 16.0 26.7 37.1 72.4 58.4 58.4 46.7 36.4 32.3 34.0 62 Memo: 63 Trade credit net of trade debt 64 Earnings rec. from abroad -20.5 16.1 14.0 11.6 13.4 11.4 5.2 11.1 11.4 16.8 5.4 14.7 12.8 29.2 13.1 26.7 -14.1 25.2 -15.0 20.9 1.5 23.4 -8.0 63 14.5 64 (1) Capital outlays on book basis: 65 Inventory change, NIPA 66 Less: Inv. val. adjustment 67 = Inventory change before IVA -20.7 -10.0 -10.7 9.4 -8.5 17.8 62.3 -4.1 66.4 18.0 0.3 17.7 9.6 9.8 -.1 31.1 -14.5 45.6 26.2 -27.3 53.5 30.2 -17.5 47.8 3.6 -11.0 14.6 -1.1 5.8 -6.9 -2.5 -6.5 3.9 19.1 65 -6.2 66 25.3 67 288.7 395.6 302.5 68 Total cap. expend, before IVA 245.7 282.0 69 Less: US internal funds, book 320.7 = Financing gap: Excess of capital expenditures 43.0 20.5 over U.S. internal funds 70 74.9 37 0.0 331.9 334.5 310.8 375.9 365.6 418.3 411.7 418.7 384.3 413.9 379.8 374.0 372.6 392.5 407.5 446.6 68 417.7 69 71 Capital exp./US internal funds 72 Cr. mkt. borrowing/capital exp 117.4% 23.5% 107.2% 26.7% 123.3% 50.0% 38.1 23.7 10.3 6.6 34.3 34.0 1.4 -15.0 28.9 70 111.4% 45.7% 107.6% 69.6% 102.8% 43.8% 101.5% 53.6% 108.9% 45.3% 108.9% 26.8% 100.3% -2.5% 96.3% 10.4% 106.9% 71 10.2% 72 (2) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues. (3) Equity in the Federal National Mortgage Association. (4) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds. BILLIONS OF DOLLARS. X DECEMBER 7, 1994 Nonfinancial Corporations Nonfinancial Corporations F.104 Nonfarm Nonfinancial Corporate Business 14 SEASONALLY ADJUSTED ANNUAL RATES 1991 | IV | SEASONALLY ADJUSTED ANNUAL RATES 1992 J[ II III IV 1 1 1993 I II III IV I 1 I 1994 II III 1 2 3 4 216.6 85.0 126.0 5.6 231.4 78.9 123.9 28.7 257.4 89.8 130.2 37.3 248.9 86.0 136.2 26.7 270.9 94.7 149.8 26.4 268.1 105.8 159.3 3.1 292.4 116.3 155.4 20.7 284.5 113.1 158.1 13.4 324.0 130.3 161.0 32.7 331.5 132.0 158.1 41.3 354.4 142.9 162.9 48.6 364.8 147.3 157.9 59.6 Profits before tax (book) - Profit tax accruals - Dividends = U.S. undistributed profits 1 2 3 4 5 6 7 32.9 340.6 379.2 30.7 341.8 401.2 28.4 344.0 409.7 24.2 362.5 413.3 30.3 349.1 405.9 34.3 352.6 390.0 39.6 355.1 415.4 44.7 362.4 420.5 51.8 360.4 444.9 50.8 381.3 473.5 52.1 372.0 472.7 52.8 * Capital consumption adj. 377.9 * Depreciation charges, NIPA 490.2 a U.S. internal funds, book 5 6 7 a 50.8 -.8 429.2 37.1 -4.0 434.3 39.8 -16.6 432.9 34.7 -7.5 440.7 37.6 2.1 445.6 57.6 -11.2 436.4 45.3 -10.0 450.7 52.9 3.0 476.4 47.3 -6.5 485.7 41.7 -12.3 502.9 41.8 -14.1 500.4 32.5 * Fgn. earnings ret. abroad -19.6 ♦ Inv. valuation adjustment 503.1 a Total internal funds + IVA 8 9 10 11 12 13 14 15 16 17 407.2 387.1 371.2 1.1 370.1 15.9 405.8 362.1 377.5 1.2 376.3 -15.4 390.8 389.2 392.4 1.2 391.2 -3.1 - 432.1 394.1 393.6 1.3 392.3 0.5 - 393.7 398.7 390.7 1.4 389.3 8.0 - 419.1 424.7 404.2 1.4 402.8 20.5 -.1 432.3 441.5 419.0 1.4 417.6 22.7 -.2 425.9 444.1 420.8 1.4 419.3 23.0 0.4 436.2 451.2 441.1 1.4 439.7 10.2 -.1 498.1 474.7 453.5 1.5 452.1 21.2 - 495.6 520.7 464.2 1.5 462.7 56.6 - 484.7 Gross investment 535.2 Capital expenditures (1) 486.7 Fixed investment 1.5 Residential construction Plant and equipment 485.2 48.5 Inventory change ♦ IVA Mineral rts. from U.S. govt. - 11 12 13 14 15 16 17 IB 19 20.1 73.4 43.7 150.7 1.6 139.5 38.0 128.5 -5.0 148.3 -5.6 1.4 -9.3 88.9 -13.2 105.9 -15.0 136.0 23.4 174.2 -25.2 131.3 -50.5 111. 0 Net financial investment 18 Net acq. of financial assets 19 20 21 22 23 24 25 26 27 2B 29 30 31 -16.3 -.2 2.1 -6.8 4.7 -4.6 -6.9 0.9 -.7 1.6 1.8 -7.3 21.1 14.8 -1.4 -6.4 16.4 -1.0 -31.0 25.6 23.6 2.0 -5.6 9.7 25.5 -5.7 -.8 -6.8 18.9 -7.5 2.0 27.5 25.5 2.0 6.1 -8.0 -2.7 -37.9 1.4 -13.5 17.8 -12.3 24.4 18.1 16.1 2.0 -2.3 1.7 5.3 -12.8 -2.2 -.2 10.1 -5.0 -19.4 27.5 25.5 2.0 4.3 2.9 -8.6 1.7 1.4 4.6 2.5 -10.0 -5.0 -3.0 -5.8 2.8 -1.9 1.3 -23.8 4.7 1.4 -3.1 -5.1 -9.5 -18.6 1.4 -1.4 2.8 3.9 1.1 -3.0 11.5 5.9 0.5 -6.3 -9.9 -25.6 13.9 ll.l 2.8 6.2 0.8 -1.8 -7.9 -4.4 10.2 -1.2 -7.2 2.3 -4.3 -7.1 2.3 0.4 10.4 45.9 3.1 3.6 -.7 2.8 -.9 19.4 36.8 32.4 4.4 -4.2 -13.3 61.2 -8.5 2.8 4.4 5.7 -.4 45.9 15.3 10.1 5.2 -1.4 -2.6 -10.1 -3.6 -1.5 -.8 1.3 0.7 8.0 -6.3 -6.3 -4.0 -3.3 Liquid assets Checkable dep. and curr. Small time 8 svgs. dep. Large time deposits Money mkt. fund shares Security RPs Foreign deposits U.S. govt, securities Treasury Agency Tax-exempt securities Commercial paper 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 -10.7 2.1 15.9 -5.2 8.7 39.9 5.1 3.0 37.7 12.5 3.8 22.0 -2.9 3.2 26.6 1.3 5.7 32.2 10.9 8.9 20.1 20.3 6.1 2.9 9.5 6.3 16.9 3.1 0.2 54.3 12.5 1.5 68.3 12.4 -3.1 47.9 Consumer credit Mutual fund shares Trade credit 32 33 34 35 36 37 38 39 40 82.4 41.0 0.6 -4.1 44.9 86.3 27.5 6.2 0.1 52.4 63.1 47.8 7.7 0.1 0.8 11.8 92.8 38.2 7.9 -.1 0.1 46.7 116.2 23.8 6.6 72.8 61.6 4.3 4.1 2.7 79.6 46.9 4.2 w -.9 29.3 105.1 24.8 5.1 63.9 59.2 5.0 -3.7 78.9 70.6 56.5 5.9 0.2 -3.5 11.5 -12.2 61.9 6.4 5.9 79.9 -29.3 34.2 5.4 0.1 3.9 -72.9 7.2 -87.7 10.5 -10.9 Miscellaneous assets US dir. invest, abr. (2) Insurance receivables Equity in GSEs (3) Inv. ln finance co.subs. Other 35 36 37 38 39 40 41 42 43 53.3 -16.9 48.0 107.0 81.6 46.0 137.8 78.4 36.0 90.5 39.4 12.0 153.3 72.2 14.0 7.0 27.5 8.2 98.1 80.6 23.2 124.1 78.6 32.3 151.1 81.7 21.5 150.8 110.3 -9.6 156.4 114.4 -2.0 161.5 75.9 -50.0 Net Increase in liabilities Net funds raised in mkts. Net new equity issues 41 42 43 44 45 46 47 48 49 -64.9 -5.2 60.2 -17.1 -38.7 -7.5 35.6 -3.2 76.5 -25.0 -13.3 10.3 42.4 -1.4 77.8 -17.0 -23.9 -2.0 27.4 -1.0 61.7 -41.7 -.3 4.0 58.2 5.4 54.0 -26.3 -10.6 22.3 19.3 -4.3 85.7 -5.7 -16.1 -14.1 57.4 -.6 75.7 -30.4 9.4 33.2 46.3 1.3 72.0 -3.3 -9.7 17.2 60.2 3.3 67.4 -21.1 3.6 3.8 119.9 -4.4 35.1 -8.6 34.8 8.0 116.4 0.2 38.9 -.3 51.8 16.4 125.9 -3.8 24.6 5.6 60.6 33.8 Credit mkt. instruments Tax-exempt debt (4) Corporate bonds (2) Mortgages Bank loans n.e.c. Commercial paper 44 45 46 47 48 49 50 51 52 53 54 55 56 -56.6 -2.5 -13.5 -.6 -6.7 -36.9 3.7 -9.7 -3.7 2.3 -.2 -7.5 1.3 -2.0 9.0 -3.0 -1.6 -.2 -3.1 12.2 4.7 4.7 -2.1 -3.1 -1.8 12.5 -.8 13.3 -11.3 14.0 0.1 0.7 2.7 7.1 -26.2 -2.3 -17.4 0.1 0.8 -20.4 12.9 -29.9 -.4 -11.9 0.3 -5.3 -19.2 6.7 -30.9 11.9 0.2 -4.8 -33.9 -4.5 3.2 -.5 -4.0 0.4 -4.1 -4.2 15.8 55.0 -.9 36.1 0.4 1.9 10.2 7.3 9.6 -.2 26.7 0.5 -1.8 -12.7 -2.9 23.3 O.S -.8 -18.0 0.1 Other loans Savings institutions Finance companies U.S. government Accept.liab.to banks Rest of the world ABS issuers 50 51 52 53 54 55 56 57 58 S9 60 61 -5.2 24.2 51.1 26.0 25.1 10.1 33.9 -18.5 -13.7 -4.8 3.1 36.2 20.1 19.4 0.7 7.3 19.7 24.1 15.3 8.7 8.5 30.6 42.1 14.7 27.3 4.9 26.8 -52.3 -65.3 13.1 5.5 23.3 -11.3 -15.5 4.2 -5.6 28.8 22.4 8.1 14.3 3.3 25.1 41.0 33.4 7.5 11.5 17.2 11.9 25.6 -13.7 -2.0 59.8 -15.8 -10.9 -4.9 5.0 41.0 39.6 24.6 15.0 Taxes payable Trade debt Miscellaneous liabilities Fgn. dir. invest, in US Pen. fund contr. payable 57 58 59 62 22.0 28.4 42.0 8.6 51.9 17.3 13.4 50.5 49.5 4.8 4.8 9 10 M K N K 63 64 -8.3 20.1 6.0 26.5 1.5 23.9 2.3 26.0 -4.0 17.0 5.4 9.8 -3.2 17.5 -25.8 16.1 -8.2 14.4 37.1 19.3 8.5 18.9 65 66 67 15.9 -.8 16.7 -15.4 -4.0 -11.4 -3.1 -16.6 13.5 0.5 -7.3 7.8 8.0 2.1 5.9 20.5 -11.2 31.7 22.7 -10.0 32.7 23.0 3.0 20.0 10.2 -6.5 16.7 21.2 -12.3 33.5 56.6 -14.1 70.7 68 89 387.9 379.2 366.1 401.2 405.8 409.7 401.4 413.3 396.6 405.9 435.9 390.0 451.5 415.4 441.1 420.5 457.7 444.9 78 8.7 -35.0 -3.9 -11.9 -9.3 45.9 36.1 20.6 12.8 71 72 102.2X -16.7X 91.2X 9.7X 99.OX 10.4X 97. IX 6.8X 97.7X 14.6X 111.7X 4.4X 108.6X 12.7X 104.8X 1 0.4X 102.8X 13. IX N 5.1 M 18.3 Discrepancy 113.IX 21.7X (1) Capital outlays on book basis: 48.5 Inventory change, NIPA -19.6 Less: Inv. val. adjustment 68.1 a Inventory change before IVA 65 66 67 68 69 70 113.IX Capital exp./US Internal funds 71 22.6X Cr. mkt. borrowing/capital exp 72 (2) Through 1992:Q4, corporate bonds include net issues oy Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues. (3) Equity in the Federal National Mortgage Association. (4) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds. BILLIONS OF DOLLARS 62 Memo j 6.9 Trade credit net of trade debt 63 64 28.8 Earnings rec. from abroad 487.0 534.8 554.8 Total cap. expend, before IVA 473.5 472.7 490.2 Less: US internal funds, book s Financing gap: Excess of capital expenditures 64.6 13.5 62.1 over U.S. internal funds 102.8X 24.6X 60 61 DECEMBER 7, 1914 State and Local Governments 15 State and Local Governments F.105 State and Local Governmental Excluding Employee Retirement Funds (1) ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1 Receipts, NIPA basis Tax receipts 2 3 Social Insurance receipts 4 Grants-in-aid received 409.0 289.3 35.9 83.9 443.5 318.8 37.7 87.0 492.2 357.6 40.2 94.4 528.7 385.5 42.9 100.3 571.3 416.3 47.3 107.7 594.3 442.3 49.2 102.8 631.3 468.1 51.9 111.3 681.5 508.5 54.8 118.2 730.0 539.4 58.3 132.3 783.6 569.3 61.0 153.3 842.9 606.3 64.5 172.2 891.1 637.1 67.8 186.1 1 2 3 4 S Expenditures, NIPA basis 6 Puroh. of goods and services 7 Net interest and transfers 382.1 341.1 41.0 403.2 360.3 42.9 434.1 389.9 44.2 472.6 428.1 44.5 516.9 465.3 51.6 554.3 496.6 57.6 593.0 531.7 61.3 636.7 573.6 63.1 705.0 621.0 84.0 766.6 651.6 115.0 818.1 676.3 141.8 864.7 704.8 159.9 5 6 7 8 Net surplus, NIPA basis 9 - Pension fund reserves 10 * Gross saving 26.9 31.7 -4.8 40.3 35.1 5.2 58.1 45.3 12.8 56.1 53.4 2.7 54.4 71.7 -17.4 40.1 59.8 -19.7 38.4 56.0 -17.7 44.8 80.1 -35.3 25.0 70.0 -45.0 17.0 61.2 -44.2 24.8 72.0 -47.2 26.4 8 82.7 9 -56.3 10 11 Net financial Investment 12 Net acq. of financial assets 13 Checkable dep. and curr. 14 Time deposits 15 Security RPs -1.7 29.7 -1.6 3.8 2.4 11.6 47.0 -.7 -6.3 15.4 6.8 43.5 5.0 0.2 11.9 8.7 144.7 1.1 7.0 8.2 2.0 58.6 2.5 2.4 5.5 -16.4 60.6 -.7 7.1 20.7 -.1 43.6 3.0 -2.0 19.7 -38.5 32.3 0.4 -2.8 1.9 -38.9 10.2 -1.0 -2.7 -23.7 -52.8 10.5 4.7 -9.9 -14.9 -36.7 -18.0 3.1 -6.2 11.9 -59.1 7.2 1.4 -4.8 8.9 11 12 13 14 15 16 17 18 19 20 21 23.5 18.0 9.4 8.6 0.2 5.2 35.8 27.4 22.4 5.0 0.6 7.9 25.4 14.1 16.3 -2.3 1.1 10.2 124.5 115.8 95.7 20.2 -1.2 9.8 45.5 33.9 23.1 10.8 -.2 11.8 33.0 23.9 43.9 -20.0 0.4 8.7 19.3 14.1 28.4 -14.3 1.5 3.7 29.3 20.7 6.1 14.5 2.3 6.3 38.3 30.5 2.4 28.0 2.6 5.3 29.2 24.1 14.2 9.9 1.4 3.8 -26.8 -26.1 -12.9 -13.2 -.6 M 1.5 7.4 16.2 -8.8 -.5 -5.4 16 17 18 19 20 21 22 Credit market Instruments U.S. govt, securities Treasury Agency Tax-exempt securities Mortgages Taxes receivable 1.5 2.8 1.0 4.0 2.7 0.5 3.6 3.5 -.7 1.5 0.1 0.2 22 23 Net Increase in liabilities 31.3 35.4 36.7 136.0 56.6 77.0 43.7 70.7 49.1 63.4 18.7 66.3 23 24 25 26 27 28 Credit market instruments Tax-exempt securities Short-term Other U.S. government loans 30.4 29.4 6.7 22.7 1.0 34.6 33.5 -1.5 35.0 1.1 35.7 28.0 -3.7 31.6 7.7 134.9 126.7 2.2 124.5 8.2 54.9 53.5 -.1 53.6 1.4 75.1 77.4 -1.7 79.1 -2.4 41.5 44.8 2.4 42.4 -3.3 68.0 68.3 4.2 64.1 -.2 46.0 45.1 3.7 41.4 0.9 62.6 62.2 5.9 56.3 0.4 16.4 16.5 -.5 17.0 -.1 65.7 66.3 5.2 61.1 -.6 29 Trade debt 30 Discrepancy 0.9 0.8 1.0 l.l 1.6 2.0 2.2 2.7 3.1 0.8 2.3 0.6 29 -3.2 -6.4 6.0 -6.0 -19.4 -3.3 -17.6 3.1 -6.1 8.6 -10.5 2.8 30 (1) Data for employee retirement funds are shown in table F .124. BILLIONS OF DOLLARS 24 25 26 27 28 DECEMBER 7, 1994 State and Local Governments State and Local Governments F.105 State and Local Governments, Excluding Employee Retirement Funds (I J SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES 1991 I IV 1 1992 I II III IV I 1 1993 I Il III IV I I I 1994 II III 1 2 3 4 810.9 586.3 62.0 162.6 822.4 594.8 63.0 164.6 838.6 601.7 64.1 172.8 845.1 605.5 65.0 174.6 865.5 623.0 65.9 176.6 865.0 621.6 66.7 176.7 884.4 634.0 67.5 182.9 896.0 640.0 68.2 187.8 918.8 652.9 68.9 197.0 919.1 659.4 69.7 190.0 935.6 670.7 70.5 194.4 950.6 Receipts, NIPA basis Tax receipts 679.0 Social insurance receipts 71.3 200.3 Grants-in-aid received I 2 3 4 5 6 7 785.8 659.7 126.1 802.4 669.3 133.1 812.8 673.6 139.2 824.7 679.1 145.6 832.4 683.3 149.1 843.3 690.2 153.1 859.0 701.2 157.8 872.1 710.2 161.9 884.3 717.4 166.9 893.8 722.0 171.8 908.5 731.5 177.0 926.4 Expenditures, NIPA basis Purch. of goods and services 744.3 182.1 Net interest and transfers 5 6 7 8 9 10 25.1 45.2 -20.1 20.0 92.6 -72.6 25.8 54.1 -28.3 20.4 93.6 -73.2 33.1 47.7 -14.6 21.7 28.1 -6.4 25.4 103.9 -78.5 23.9 75.1 -51.2 34.5 123.6 -89.1 25.3 75.1 -49.8 27.1 90.3 -63.2 24.2 Net surplus, NIPA basis 91.8 - Pension fund reserves -67.6 - Gross saving 11 12 13 14 15 -38.6 42.9 4.0 -14.5 6.6 -70.6 -31.5 4.0 -7.7 0.7 -15.3 20.8 -3.0 -10.6 24.7 -62.3 -25.9 12.0 2.9 8.6 1.6 -35.4 -.7 -9.3 13.5 -6.4 79.6 8.5 -.4 15.0 -71.2 42.5 1.2 -7.3 -10.1 -58.4 -10.1 3.7 -12.0 7.2 -100.5 -83.3 -7.8 0.4 23.3 -43.8 -33.8 11.8 -1.9 -20.7 -66.1 -93.2 -3.7 -.1 -1.4 -63.6 Net financial Investment -112.0 Net acq. of financial assets Checkable dep. and curr. -7.8 1.4 Time deposits Security RPs -1.2 11 12 13 14 15 16 17 18 19 20 21 44.6 41.5 48.0 -6.5 0.9 2.2 -31.5 -30.1 4.5 -34.6 -1.7 0.2 9.6 8.4 -8.6 17.0 -.8 2.0 -47.1 -45.7 -27.9 -17.8 -.2 -1.2 -38.3 -37.2 -19.8 -17.4 0.2 -1.2 57.0 56.7 35.4 21.3 57.7 69.9 32.9 36.9 -1.4 -10.7 -7.7 -3.0 13.0 -16.0 0.7 -5.5 -101.0 -94.2 -16.6 -77.6 -l.l -5.6 -21.6 -18.4 0.1 -18.5 -1.7 -1.5 -88.2 -87.4 -18.6 -68.8 -2.7 1.8 -104.0 -97.5 -44.7 -52.8 -3.6 -2.9 Credit market instruments U.S. govt, securities Treasury Agency Tax-exempt securities Mortgages 16 17 18 19 20 21 Taxes receivable 22 « 0.3 8 9 10 22 2.2 2.9 0.2 -2.2 -.7 -.5 0.9 -1.3 1.7 -1.4 0.2 -.4 23 81.5 39.1 36.2 36.4 -37.0 86.1 113.7 48.2 17.2 10.0 -27.1 -48.4 Net increase in liabilities 23 24 25 26 27 28 79.2 78.4 1.3 77.1 0.8 35.2 35.0 0.2 34.8 0.2 34.5 34.7 -7.0 41.6 -.2 34.1 34.3 20.2 14.1 -.2 -38.2 -37.9 -15.4 -22.5 -.3 85.0 85.5 4.7 80.8 -.5 113.2 113.8 14.7 99.1 -.5 47.3 48.0 -2.6 50.6 -.7 17.1 17.9 3.9 14.0 -.8 9.9 10.8 -.3 ll.l -.9 -27.8 -26.8 -9.4 -17.4 -1.0 -48.8 -47.7 -12.7 -35.0 -1.1 Credit market instruments Tax-exempt securities Short-term Other U.S. government loans 24 25 26 27 28 1.0 29 2.3 3.9 1.7 2.4 1.2 30 18.5 -2.0 -12.9 -10.9 -16.1 - 0.4 1.0 0.1 0.2 0.7 -7.3 7.1 11.4 -6.0 2-9 0.4 Trade debt -4.0 Discrepancy (1) Data for employee retirement funds are shown in table F.124. BILLIONS OF DOLLARS. 29 30 DECEMBER 7, 1994 U.S, Govt., GSEs, and Pools U.S. Govt., GSEs, and Pools F.106-F.108 U.S. -Government, GSEs, and Mortgage Pools 17 ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1986 1985 1987 1988 1989 1990 1991 1992 1993 1128.7 475.8 108.1 79.9 465.0 1178.3 489.5 115.6 81.3 491.9 1265.7 520.3 143.0 84.6 517.8 I 2 3 4 5 6 7 8 9 F.106 U.S. Government 1 Receipts, NIPA basis Personal taxes 2 3 Corp, profits tax accruals Indirect taxes 4 Social insurance receipts 5 635.4 302.9 49.1 49.7 233.8 659.9 292.6 61.3 53.5 252.6 725.8 308.0 75.2 57.8 284.8 788.6 342.8 76.3 58.6 310.9 827.2 357.4 83.9 53.5 332.5 913.7 400.6 103.2 58.5 351.5 972.4 410.1 111.0 60.9 390.4 1059.3 461.9 117.1 418.5 1111.3 484.3 116.4 65.8 444.9 6 Expenditures, NIPA basis Goods and services 7 8 Transfers, etc. 9 Net interest 770.9 266.6 419.9 84.4 840.0 292.0 455.3 92.7 892.6 310.9 468.6 113.1 969.9 344.3 498.6 127.0 1028.3 367.8 529.5 131.0 1065.6 384.9 544'. 1 136.5 1109.0 387.0 576.0 146.0 1181.6 401.6 615.3 164.7 1274.9 426.5 671.9 176.5 1331.6 445.8 698.0 187.8 1461.0 449.0 825.1 186.9 1507.1 443.7 879.8 183.6 -135.5 11.9 1.0 -146.5 -180.1 14.2 1.3 -193.1 -166.8 18.2 1.0 -184.0 -181.4 19.1 0.4 -200.1 -201.1 21.1 0.8 -221.4 -151.8 19.2 0.2 -170.9 -136.6 20.0 0.3 -156.3 -122.3 21.2 0.2 -143.2 -163.6 22.0 0.2 -185.4 -202.9 25.6 -.1 -228.5 -282.7 27.0 -309.7 -241.4 10 27.2 11 X 12 -268.5 13 -153.4 23.5 4.4 6.4 0.5 -191.3 13.6 2.9 -8.3 -.5 -191.5 32.6 2.6 5.3 0.5 -216.8 33.7 1.9 13.0 N -243.3 7.5 -.7 0.4 0.2 -169.8 -13.2 -5.4 -8.1 0.2 -190.4 -2.9 1.4 9.0 -.2 -186.6 10.3 12.7 -14.2 -.1 -180.3 67.8 0.8 4.8 0.1 -255.9 57.5 -2.6 27.4 0.1 -355.4 -28.5 -1.7 -16.9 -.7 -285.9 0.2 1.0 20.7 -.1 14 15 16 17 18 -18.4 -15.4 -2.9 3.4 -2.7 -3.8 19 20 21 22 23 24 25 10 11 12 13 Surplus, NIPA basis - Insurance and pen. reserves + Mineral rights sales - Gross saving 14 Net financial investment Net acq. of finaneial'assets 15 Gold, SDRs, and fgn. exch. 16 17 Checkable dep. and curr. 18 Time deposits 61.9 19 20 21 22 23 24 25 Credit market instruments Agency securities Mortgages Other loans Taxes receivable Trade credit Miscellaneous assets 15.9 2.4 13.6 -10.2 4.8 1.6 9.7 1.2 8.4 5.2 3.8 0.7 17.1 0.5 16.6 0.6 5.1 1.5 17.8 1.8 15.9 -4.1 3.7 1.4 9.7 0.5 9.2 -.2 -2.3 0.5 -7.9 -5.3 -2.6 -1.8 8.3 1.3 -10.6 -1.1 -9.6 -4.7 0.2 2.1 -3.1 -.8 -2.3 -3.8 3.4 15.4 33.7 35.6 -1.9 -4.2 -1.8 34.2 10.5 15.4 -4.9 -9.0 -5.0 36.1 -11.9 -11.9 26 27 28 Net increase in liabilities SDR certificates Treasury currency 177.0 1.3 0.4 204.9 0.5 224.1 0.6 250.5 * 0.1 0.4 250.8 0.3 0.5 156.6 0.5 187.5 0.5 196.9 3.5 0.6 248.0 1.5 1.0 313.4 - 326.9 -2.0 0.2 286.1 26 27 0.4 28 161.3 0.2 162.0 -.9 135.2 3.1 182.2 -.1 197.2 3.0 194.3 -.2 225.7 5.3 220.5 -.1 216.0 13.6 202.1 0.4 143.9 7.8 134.6 1.5 155.1 8.5 129.2 17.4 146.4 8.2 136.6 1.6 246.9 8.5 230.3 8.2 278.2 11.9 ‘280.1 -13.8 304.0 19.1 284.6 0.2 256.1 14.7 233.7 7.8 11.9 1.9 0.2 14.2 3.0 2.0 18.2 3.3 4.9 19.1 4.6 0.6 21.1 9.8 3.2 19.2 2.4 -9.4 20.0 2.3 9.6 21.2 9.2 16.2 22.0 -6.3 -17.1 25.6 -4.8 14.3 27.0 -2.2 -.1 21.9 -1.0 34.1 43.4 -5.1 27.4 45.7 17.4 36 -7.9 10.4 -5.9 8.3 14.5 -16.9 19.2 37 29 30 31 32 Credit market instruments Savings bonds Other Treas. securities Budget agency secur.Smtg 33 34 35 Insur. and pen. reserves Trade debt Miscellaneous liabilities 36 Discrepancy Memo: 37 Change in cash balance 6.9 -1.8 7.5 16.7 7.3 -7.1 6.3 14.4 X F.107 Government-Sponsored Enterprises (GSEs) 1 Gross saving 2 Fixed nonres. investment 3 Net acq. of financial assets 4 Checkable dep. and currency 5 Fed. funds and security RPs 6 7 8 9 10 11 12 13 14 Credit market instruments U.S. government securities Treasury Agency Mortgages Home Multifamily Farm Open market paper 15 16 17 18 19 20 Other loans Student loans (SLMA) Loans to farmers (FIC3) Loans to co-ops (BC) FHLB loans to members Miscellaneous assets 21 Net increase in liabilities 22 Credit market instruments 23 GSE issues (2) 24 U.S. government loans 25 Miscellaneous liabilities 26 Discrepancy x X -5.6 -7.0 15.4 29 30 31 32 27.2 33 1.6 34 0.7 35 (1) 2.9 1.4 2.4 2.1 2.6 3.4 1.6 3.5 1.3 3.9 2.5 3.8 3.7 4.2 4.5 5.0 4.8 4.7 5.6 4.4 5.9 5.6 6.5 7.0 1 2 22.2 -.2 5.4 2.0 0.2 -2.3 41.1 0.6 8.3 28.9 0.8 6.0 22.5 1.5 2.5 27.5 -.1 -2.2 46.7 32.1 -1.3 28.0 23.1 -.2 6.9 19.1 -.9 -1.1 55.2 6.6 -1.0 78.3 0.9 -16.2 3 4 5 16.0 1.4 1.5 -.1 14.1 10.3 -.1 3.9 -.3 3.4 -1.3 -.8 -.4 10.4 9.4 -.1 1.1 0.4 29.3 1.6 1.4 0.2 11.9 10.7 0.9 0.3 -.1 25.3 4.5 4.4 0.1 9.6 12.2 1.9 -4.5 -.6 17.5 9.6 10.2 -.6 -11.3 -5.0 0.3 -6.5 24.5 4.8 4.9 -.1 -7.5 -2.5 -.3 -4.8 33.2 5.9 5.8 0.2 5.0 5.8 1.1 -1.9 0.4 -4.1 -7.4 -13.3 5.9 6.0 5.3 2.5 -1.8 2.9 13.9 27.7 22.1 5.6 5.7 5.3 1.2 -.9 0.5 15.2 28.6 17.5 11.1 11.7 10.9 1.4 -.5 7.1 69.0 30.4 18.2 12.3 32.1 30.5 1.6 -.1 2.7 90.2 18.7 -1.5 20.2 46.7 45.2 1.7 -.2 -1.7 6 7 8 10 11 12 13 14 0.8 1.6 -.8 -.8 0.8 0.9 -6.1 1.5 -1.3 0.9 -7.0 0.7 16.0 1.9 -1.2 -.4 15.7 2.9 11.8 2.5 -3.9 -1.0 14.2 -3.2 19.2 2.4 -2.3 -.7 19.8 1.0 27.3 3.7 -1.6 0.8 24.4 5.2 21.9 2.3 -2.3 1.6 19.7 6.9 -5.7 3.4 1.9 -11.0 9.5 -20.0 4.1 0.3 0.2 -24.7 2.5 -32.2 3.0 1.4 1.4 -38.0 6.0 3.8 1.6 0.2 1.2 0.8 -12.7 26.4 1.8 0.2 1.2 23.3 3.5 15 16 17 18 19 20 21.3 15.3 14.9 0.4 5.9 1.2 1.4 1.4 -.2 40.7 30.4 30.4 10.2 30.6 21.7 20.6 1.1 8.9 23.2 14.9 15.2 -.4 8.3 27.4 29.5 30.2 -.3 -2.1 46.0 44.9 44.9 1.1 31.5 25.2 25.2 6.3 21.6 17.0 17.1 -.1 4.6 16.9 9.1 9.2 52.7 40.2 40.3 7.8 12.5 75.7 80.6 80.6 -4.9 21 22 23 24 25 0.7 -.5 -1.3 -.1 -2.0 -1.4 -1.2 -1.0 -1.4 -1.1 -2.2 -3.2 26 150.3 148.1 2.3 136.6 140.0 -3.4 115.6 117.8 -2.3 X X X X X X X 9 (1) Federal Home Loan Banxs, Federal National Mortgage Assn., Federal Home Loan Mortgage Corp., Student Loan Marketing Assn., Federal Land Banks, Federal Intermediate Credit Banks, Banks for Cooperatives, the Financing Corp., and the Resolution Funding Corporation. (2) Such issues are classified as U.S. government securities. F.108 Federally Related Mortgage Pools (3) 1 Net acq. of mortgages 2 Home 3 Multifamily 4 Farm 5 Net increase in pool secs. (4) 49.5 49.3 0.4 -.2 66.4 65.2 1.2 49.5 66.4 X 44.4 43.4 1.1 X 44.4 79.9 78.6 1.5 -.2 163.3 158.3 5.1 -.2 142.3 137.8 4.5 79.9 163.3 142.3 (3) GNMA, FNMA, FHLMC, and Farmers Home Administration pools. Also includes federally related pools that are used as collateral for federally related agency-issued CMOs and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with U.S. government mortgages and other loans. (4) Such issues are classified as U.S. government securities. BILLIONS OF DOLLARS X 74.9 69.7 5.2 X 74.9 124.3 118.7 5.6 X 124.3 X 150.3 X 136.6 80.6 82.0 -1.4 1 2 3 4 80.6 5 X 115.6 DECEMBER 7, 1994 U.S. Govt.* GSEs, and Pools U.S. Govt., GSEs, and Pools F.106-F.108 U.S. Government, GSEs, and Mortgage Pools 18 SEASONALLY ADJUSTED ANNUAL RATES 1991 IV SEASONALLY ADJUSTED ANNUAL RATES 1992 I 1 II I IV III I I 1993 I II IV III I 1 I 1994 II III F.106 U.S. Government 1 2 3 4 5 1140.5 477.3 109.6 82.9 470.7 1155.7 476.0 115.7 80.7 483.3 1171.1 481.3 120.8 80.5 488.5 1166.5 489.2 103.2 80.2 493.9 1219.9 511.6 122.6 83.8 501.9 1212.8 497.2 132.1 81.9 501.6 1263.7 519.8 141.8 83.5 518.6 1272.7 527.5 140.2 82.3 522.7 1313.6 536.8 157.8 90.7 528.3 1337.5 550.2 151.3 90.4 545.1 1380.8 571.1 166.3 90.4 553.0 1386.3 Receipts, NIPA basis 566.5 Personal taxes 172.4 Corp, profits tax accruals 91.9 Indirect taxes 557.5 Social insurance receipts 1 2 3 4 5 6 7 8 9 1386.4 438.3 756.5 191.6 1435.6 445.2 802.2 188.2 1455.8 443.2 823.1 189.5 1460.4 452.9 820.9 186.6 1492.1 454.8 854.2 183.1 1496.1 446.9 866.7 182.5 1500.8 445.2 870.8 184.8 1497.6 442.7 871.3 183.6 1533.7 439.8 910.4 183.5 1513.7 437.8 896.6 179.3 1525.8 435.1 901.9 186.8 1543.6 Expenditures, NIPA basis 444.4 Goods and services 904.8 Transfers, etc. 194.4 Net interest 6 7 8 9 10 11 12 13 -245.9 26.5 -272.4 -279.9 24.3 -304.2 -284.7 27.0 -311.7 -293.9 28.6 -322.5 -272.2 28.2 -300.4 -283.3 22.7 -.1 -306.0 -237.1 28.4 -.2 -265.7 -224.9 29.4 0.4 -253.9 -220.1 28.1 -.1 -248.3 -176.2 23.5 -199.7 -145.0 28.1 -173.1 -155.3 28.5 -183.8 14 15 16 17 18 -254.4 118.2 -2.4 143.9 0.1 -370.6 -20.2 2.3 -70.1 1.4 -332.1 22.1 -2.6 27.3 1.2 -350.0 -10.8 -3.3 46.9 -.1 -368.7 -104.9 -3.3 -71.6 -5.2 -267.8 -2.5 2.7 12.6 0.2 -334.7 15.0 -1.9 66.8 -.4 -267.8 -62.7 1.4 -31.1 -273.3 50.9 1.6 34.7 -.1 -258.9 -28.9 0.3 24.7 -.4 -218.8 -81.1 -5.7 -64.7 -.1 -232.2 Net financial investment Net acq. of financial assets -72.3 -.4 Gold, SDRs, and fgn. exch. -61.4 Checkable dep. and curr. 0.1 Time deposits 19 20 21 22 23 24 25 -22.1 -21.7 -.4 -6.4 -4.1 9.3 16.4 16.8 -.4 2.5 -3.7 31.1 -21.7 -18.9 -2.8 -6.1 -10.2 34.2 -26.3 -28.8 2.5 -19.7 -13.4 5.1 -16.0 -16.9 0.8 0.8 -.7 -8.9 -23.2 -17.7 -5.5 15.4 -8.5 -1.8 -27.1 -22.1 -5.0 -11.8 -6.7 -3.9 -15.4 -12.9 -2.5 -1.6 0.8 -16.7 -7.9 -9.1 1.3 11.3 3.5 7.1 -40.8 -16.4 -24.5 15.8 -15.2 -13.3 -8.2 -1.4 -6.8 -16.0 -1.5 15.0 -6.6 4.0 -10.6 7.7 -2. 0 -9.7 Credit market instruments Agency securities Mortgages Other loans Taxes receivable Trade credit Miscellaneous assets 19 20 21 22 23 24 25 26 27 28 372.6 0.5 350.4 0.1 354.2 0.3 339.2 0.2 263.8 -8.0 0.3 265.3 0.3 349.6 0.4 205.1 0.4 324.2 0.7 229.9 0.7 137.6 0.6 159.9 0.8 Net Increase in liabilities SDR certificates Treasury currency 26 27 28 29 30 31 32 275.3 11.0 260.5 3.8 331.3 15.6 326.9 -11.2 347.4 13.4 333.6 0.4 294.6 19.9 265.7 9.0 242.7 27.8 212.3 2.7 240.5 25.4 211.9 3.2 336.4 11.6 320.7 4.1 173.4 10.2 146.9 16.3 274.2 11.3 255.1 7.7 210.6 12.3 199.5 -1.3 122.9 8.5 109.6 4.7 134.1 6.0 123.8 4.4 33 34 35 26.5 -19.3 89.5 24.3 -8.4 3.1 27.0 -9.0 -11.4 28.6 11.9 3.9 28.2 -3.4 3.9 22.7 -10.6 12.4 28.4 1.8 -17.4 29.4 6.6 -4.7 28.1 8.7 12.5 23.5 -7.8 3.0 28.1 -4.2 -9.9 28.5 0.9 -4.4 36 -18.0 66.4 20.4 27.5 68.3 -38.3 68.9 13.9 25.0 59.1 45.7 37 51.2 -53.9 17.3 57.6 -38.6 17.6 69.2 -29.1 19.1 21.9 -64.5 X F.107 Government-Sponsored Enterprises (GSEs) Surplus, NIPA basis - Insurance and pen. reserves ♦ Mineral rights sales = Gross saving 10 11 12 13 14 15 15 17 18 Credit market instruments Savings bonds Other Treas. securities Budget agency secur.Smtg 29 30 31 32 Insur. and pen. reserves Trade debt Miscellaneous liabilities 33 34 35 48.4 Discrepancy Memo: -46.5 Change in cash balance 36 37 (1) 1 2 5.3 4.3 6.2 5.4 5.9 5.6 5.8 5.7 5.8 5.7 6.3 6.7 6.4 6.9 6.6 7.0 6.6 7.3 7.1 8. 0 7.2 8.2 3 4 5 26.7 -2.2 -33.7 60.5 0.2 4.8 35.2 -1.0 -5.3 88.1 -.3 17.2 37.1 1.1 -20.7 -14.1 -.8 -37.1 95.4 -.6 -30.9 160.3 1.8 -3.9 71.6 3.3 6.9 94.3 -1.6 14.4 119.8 -.6 31.4 143.0 Net acq. of financial assets Checkable dep. and currency 0.3 19.9 Fed. funds and security RPs 6 7 8 9 10 11 12 13 14 33.9 16.1 -5.1 21.2 21.4 18.0 2.8 0.6 7.3 92.1 61.6 39.3 22.3 32.2 30.2 2.0 34.4 7.1 -12.0 19.1 17.7 16.7 1.0 1.6 5.4 68.7 23.8 24.4 -.6 26.3 24.9 1.3 0.1 3.2 80.7 29.3 20.8 8.4 52.0 50.4 2.2 -.6 0.5 16.7 -26.5 -23.9 -2.5 20.9 20.1 1.3 -.5 -2.5 128.0 25.6 14.8 10.8 69.7 68.7 0.9 0.2 3.6 144.8 69.9 45.6 24.3 43.2 40.4 2.0 0.8 2.1 71.2 5.9 -42.3 48.2 52.8 51.6 2.5 -1.3 -9.8 92.4 42.9 9.3 33.5 40.3 39.6 1.8 -1.0 9.5 101.1 53.9 13.8 40.1 18.3 16.4 0.8 1.1 -2.1 135.6 84.9 14.0 70.9 22.4 21.8 0.3 0.2 -7.9 Credit market instruments U.S. government securities Treasury Agency Mortgages Home Multifamily Farm Open marxet paper 6 7 8 9 19 11 12 13 14 15 16 17 18 19 20 -10.8 5.7 -.4 3.4 -19.5 28.7 -3.3 2.9 0.2 4.8 -11.2 -36.6 4.2 3.2 1.1 -2.4 2.3 7.1 15.3 2.6 -.4 -.1 13.2 2.6 -1.0 -2.1 -.1 2.3 -1.1 -24.1 24.7 2.7 -1.5 3.0 20.4 7.2 29.1 1.5 0.7 -1.4 28.4 -1.1 29.5 1.6 0.5 27.4 17.5 22.4 1.2 1.0 3.3 16.8 -9.8 -.3 4.7 1.6 4.2 -10.8 -10.9 31.0 2. 1 1.4 -4.9 32.3 -12.1 36.2 5.9 -.6 0.1 30.7 -12.7 Other loans Student loans (SLMA) Loans to farmers (FICB) Loans to co-ops (30 FHLB loans to members Miscellaneous assets 15 16 17 18 19 20 21 22 23 24 25 25.7 32.5 32.6 -.1 -6.8 59.1 11.5 11.5 47.7 30.9 48.3 48.3 -17.5 86.8 67.7 67.7 19.1 34.1 33.5 33.6 -.1 0.6 -17.7 32.2 32.2 -49.9 93.6 68.8 68.8 24.9 157.2 167.8 167.8 -10.6 69.5 53.4 53.4 16.1 91.5 140.8 160.0 -19.2 -49.4 117.8 145.6 146.6 -23.8 142.7 Net increase in liabilities 152.1 Credit market instruments 152.1 GSE issues (2) U.S. government loans -9.4 Miscellaneous liabilities -.7 -4.1 -1.2 -2.9 -4.0 -2.3 -3.6 -2.8 -3.7 -3. 0 26 X X X X 7.2 Gross saving 8.5 Fixed nonres. investment 1 2 3 4 5 21 22 23 24 25 -1.7 Discrepancy 26 (1) Federal Home Loan Banks, Federal National Mortgage Assn., Federal Home Loan Mortgage Corp., Student Loan Marketing Assn., Federal Land Banks, Federal Intermediate Credit Banks, Banks for Cooperatives, the Financing Corp., and the Resolution Funding Corporation. C2) Such issues are classified as U.S. government securities. F.108 Federally Related Mortgage Pools (3) 1 2 3 4 118.9 118.3 0.7 118.9 120.8 -1.9 139.9 142.4 -2.5 w 104.3 105.7 -1.4 99.2 102.5 -3.3 5 118.9 118.9 139.9 104.3 99.2 X X X X 137.2 139.7 -2.5 -12.2 -9.6 -2.6 - 119.5 120.4 -.9 77.9 77.4 0.5 - 180.0 180.6 -.6 * 98.6 98.6 -.1 * 72.8 Net acq. of mortgages Home 73.3 -1.0 Multifamily Farm - 137.2 -12.2 119.5 77.9 180.0 98.6 72.8 Net increase in pool secs. X X 1 2 3 4 (4) (3) GNMA, FNMA, FHLMC, and Farmers Home Administration pools. Also includes federally related pools that are used as collateral for federally related agency-issued CMOs and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with U.S. government mortgages and other loans. (4) Such issues are classified as U.S. government securities. BILLIONS OF DOLLARS 5 DECEMBER 7, 1994 Rest of the World Rest of the World F.109 Rest of the World 19 ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1 Foreign income from U.S. 2 US imports from abroad 3 US factor payments to fgn. 4 Net transfers to foreign 382.4 303.2 67.1 12.1 407.5 328.1 66.5 12.9 504.5 405.1 83.8 15.6 517.4 417.6 82.4 17.4 556.8 451.7 86.9 16.3 624.1 507.1 100.5 16.6 690.9 552.2 120.9 17.8 754.9 587.7 141.6 25.6 804.2 628.5 146.9 28.8 748.7 621.0 139.7 -12.0 828.1 668.4 127.9 31.9 887.9 724.3 132.1 31.5 I 2 3 4 5 Foreign outlays to U.S. 6 US exports to foreign 7 US factor receipts from fgn. 8 Net capital grants from fgn. 379.9 282.6 97.3 372.5 276.7 95.8 - 410.5 302.4 108.1 - 399.3 302.1 97.3 - 415.2 319.2 96.0 - 469.1 364.0 105.1 - 572.9 444.2 128.7 665.5 508.0 157.5 - 725.7 557.1 168.6 - 756.8 601.1 155.7 - 771.6 638.1 133.5 - 795.6 659.1 136.6 - 5 6 7 8 9 Gross saving (1) IQ Net financial investment 11 Net acq. of financial assets 12 Gold and SDRs (2) U.S. checkable dep. 13 14 U.S. time deposits 15 Net interbank claims 16 17 18 19 20 21 22 23 24 25 26 27 28 Security RPs U.S. corporate equities Credit market instruments U.S. govt, securities Official, net Treasury Agency Private, net Treasury Agency U.S. corporate bonds (3) Loans to U.S. corp. bus. Open market paper 29 30 Security credit Trade credit 31 32 33 34 35 36 Miscellaneous assets Fgn. dir. inv. in US (4) Equity Reinvested earnings Intercompany accounts Other 37 38 39 Net increase in liabilities U.S. off. fgn. exchange and net IMF position U.S. private deposits Foreign corporate equities Credit market instruments Corporate bonds 40 41 42 43 44 45 46 Bank loans n.e.c. Official 3anks Other 47 48 49 Commercial paper Accept, liabs. to banks U.S. government loans 2.5 34.9 94.0 118.1 141.7 155.1 118.0 89.4 78.5 -8.1 56.5 92.3 9 -29.9 35.3 -1.4 -3.7 6.8 -3.5 24.6 55.7 -.1 1.6 0.5 12.2 79.0 98.7 -1.0 2.1 4.6 2.8 102.0 119.4 -.9 1.5 3.7 16.6 121.3 166.4 -.2 2.7 -2.7 15.7 171.5 208.9 -.5 -1.4 0.9 54.7 140.9 185.3 0.1 -.5 3.1 5.9 49.7 188.7 -.5 0.2 -1.9 -7.2 51.8 138.2 -.2 -.3 -.5 25.6 46.6 77.6 -.2 -1.4 -.6 -20.3 85.0 195.6 2.3 1.5 -3.2 62.9 82.8 270.7 -.5 -.3 -1.7 37.1 10 11 12 13 14 15 1.6 3.7 31.5 12.4 5.1 5.8 -.7 7.4 7.0 0.3 15.7 5.1 -1.7 0.7 5.0 29.8 15.6 6.5 7.0 -.5 9.1 8.7 0.5 7.1 6.3 0.8 0.1 -3.4 70.2 28.9 4.7 4.7 * 24.2 23.0 1.2 15.6 24.6 1.2 0.8 4.4 68.6 23.9 -1.1 -.8 -.3 25.1 20.4 4.6 36.3 8.6 -.2 3.4 17.9 105.5 45.1 33.2 34.4 -1.2 12.0 3.8 8.2 39.1 21.4 -.1 2.2 15.0 65.2 40.6 44.8 43.2 1.6 -4.2 -7.6 3.5 18.8 4.8 1.0 -.1 -2.9 112.4 68.7 43.1 41.7 1.3 25.7 20.2 5.4 15.9 25.0 2.8 4.1 9.0 86.6 44.8 1.5 0.1 1.4 43.3 29.6 13.7 13.0 26.4 2.4 -.5 -16.0 85.5 33.3 30.2 29.6 0.7 3.0 -2.5 5.6 5.3 48.8 -2.0 0.1 10.4 26.6 43.9 16.1 14.8 1.3 27.8 18.8 8.9 16.2 -34.1 0.6 6.7 -5.8 100.5 73.6 22.4 18.5 3.9 51.2 36.9 14.3 18.1 7.2 1.6 4.2 20.5 126.0 109.8 52.8 48.7 4.1 57.0 24.8 32.1 30.0 -19.4 5.7 16 17 18 19 20 21 22 23 24 25 26 27 28 -.5 1.0 1.5 0.5 1.0 0.2 3.1 2.4 6.2 0.6 3.4 0.8 12.5 8.3 -3.7 7.8 -11.7 5.0 10.5 8.7 -1.4 3.2 -5.4 21.8 24.7 15.0 2.3 7.4 -3.0 24.2 20.0 15.2 -.4 5.2 4.2 23.2 35.6 25.1 -.8 11.3 -12.5 72.5 58.2 30.6 12.8 14.8 14.3 64.2 57.3 40.4 5.4 11.5 6.9 96.1 67.7 51.9 -6.7 22.5 28.4 38.3 47.9 57.0 -13.5 4.4 -9.6 62.3 26.1 41.9 -17.8 2.0 36.3 27.3 9.9 25.5 -11.6 -3.9 17.4 65.2 19.7 17.5 45.1 37.4 44.4 139.0 86.3 31.0 110.6 187.9 37 1.1 6.5 2.2 -1.9 3.0 7.1 -.6 27.6 -9.7 8.6 4.0 23.0 24.3 35.7 2.0 38.2 -5.9 -16.7 -1.6 -7.2 0.8 38 -22.1 39 1.4 16.0 6.6 3.7 17.3 3.1 0.9 8.4 3.8 3.7 1.2 3.8 1.2 9.7 3.1 -2.1 6.2 7.4 0.9 6.4 6.9 17.2 10.2 4.9 7.4 23.9 21.4 30.7 13.9 14.1 30.7 21.3 14.4 60.6 40 46.9 41 59.4 42 -5.5 X 0.7 -6.2 3.6 3.0 -.9 1.5 -6.6 -.9 -3.1 -2.6 -2.8 -1.4 -1.3 -.1 -1.0 X 1.0 -2.1 -3.6 -.9 -2.9 0.2 -1.8 -.5 -1.3 -.1 -1.4 0.7 0.5 -2.9 -.5 -2.7 0.4 3.1 -.4 1.0 2.5 2.3 1.0 0.7 0.6 0.7 -1.0 1.2 0.5 1.9 8.5 4.5 6.5 -.1 4.3 6.2 1.0 4.0 6.2 -7.4 1.4 11.5 -5.4 1.5 3.8 1.0 -2.4 8.7 -2.4 -5.1 13.1 -5.3 -2.3 12.3 -3.2 -3.7 6.4 -4.4 -5.4 5.2 -.7 0.2 -9.0 47 -3.1 48 -1.1 49 -4.1 -1.1 -.6 -.2 -.8 2.5 7.7 2.8 -1.2 52 53 54 55 •*< 56 57 58 59 Miscellaneous liabilities U.S.equity in IBRD, etc. U.S. govt, deposits U.S. dir. inv. abr.(3,4) Equity Reinvested earnings Intercompany accounts Other 46.4 1.3 0.4 12.9 9.7 2.7 0.5 31.8 3.5 0.7 0.1 11.1 4.9 11.7 -5.5 -8.3 10.8 1.1 0.4 14.6 1.3 16.6 -3.3 -5.3 2.7 1.5 -.1 9.2 -2.2 14.3 -2.9 -8.0 8.0 1.5 -1.0 12.2 0.6 8.4 3.2 -4.7 31.9 1.2 0.1 23.4 4.6 15.9 2.9 7.1 2.4 2.4 -.3 10.1 -6.1 10.9 5.3 -9.8 48.4 1.2 -.1 31.9 6.4 11.9 13.5 15.4 16.1 1.3 0.1 24.9 8.7 20.4 -4.3 -10.2 6.1 1.5 1.0 30.3 17.7 16.9 -4.3 -26.7 66.1 1.4 O.i 38.4 14.4 14.5 9.5 26.2 32.4 10.3 15.0 16.1 20.4 -16.5 -22.9 39.7 26.6 -54.7 -28.5 -20.6 30.2 12.1 -2.5 -51.4 29.4 12.9 -34.9 -102.7 24.3 15.6 -94.0 -115.6 14.8 17.4 -118.1 -132.5 9.1 18.3 -141.7 -143.1 4.6 16.6 -155.1 -108.0 7.9 17.8 -118.0 -79.7 16.0 25.6 -89.4 -71.4 21.7 28.8 -78.5 -19.9 16.0 -12.0 8.1 -30.3 5.6 31.9 -56.5 61 62 63 64 65 (5) (1) Line 1 minus line 5} also equal to line 65 with the sign reversed. (2) U.S. net sales, sign reversed. (3) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues. (4) Direct investment is valued on a current-cost basis. Excludes capital gains/losses. Components of direct investment--equity, reinvested earnings, and intercompany accounts--are not available before 1982. (5) Balance of payments discrepancy adjusted to NIPA concepts. (6) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP. BILLIONS OF DOLLARS 31 32 33 34 35 36 31.0 Security debt Trade debt Memo: Net U.S. exports, NIPA basis * Net U.S. factor income (6) - Net transfer payments to fgn ♦ Net capital grants received = Net fgn. investment in U.S. (NIPA basis) 80.2 21.4 21.7 -9.4 9.1 58.8 3.6 2.0 5o" 51 60 Discrepancy (FOF basis) 29 5.2 30 43 44 45 46 ---50 3.0 1.2 1.6 51 100.0 1.1 0.3 57.9 17.4 29.6 10.9 40.7 52 53 54 55 56 57 58 59 9.5 60 -65.3 4.5 31.5 -92.3 61 62 63 64 65 DECEMBER 7, 1994 Rest of the World Rest of the World F.109 Rest of the World 20 SEASONALLY ADJUSTED ANNUAL RATES 1991 i IV | SEASONALLY ADJUSTED ANNUAL RATES 1992 I II III IV I 1 1993 I II III IV I 1I I 1994 II III 1 2 3 4 788.2 637.5 131.6 19.1 797.7 641.7 128.3 27.7 826.2 663.9 131.6 30.7 829.3 676.6 124.8 27.9 859.3 691.4 126.8 41.1 845.3 696.4 122.2 26.7 886.6 723.5 134.3 28.8 884.9 726.0 128.6 30.3 934.8 751.4 143.3 40.1 936.0 760.9 146.1 29.0 1001.7 802.1 169.5 30.1 5 6 7 8 769.4 623.7 145.7 - 771.1 631.8 139.3 - 772.1 632.7 139.4 - 769.5 638.8 130.7 - 773.8 649.2 124.6 - 777.0 646.8 130.2 - 797.7 660.1 137.6 - 786.1 649.0 137.1 - 821.6 680.3 141.3 819.6 674.2 145.4 - 866.6 704.5 162.1 - 899.4 Foreign outlays to U.S. 725.2 US exports to foreign 174.2 US factor receipts from fgn. Net capital grants from fgn. - 1057.6 Foreign income from U.S. 839.7 US imports from abroad 184.9 US factor payments to fgn. 33.0 Net transfers to foreign 1 2 3 4 5 6 7 8 9 18.8 26.6 54.1 59.8 85.5 68.3 88.9 98.8 113.2 116.4 135.1 158.2 Gross saving (1) 10 11 12 13 14 15 73.8 49.0 -.1 2.2 l.S -54.0 73.6 197.1 -.7 0.5 -15.4 82.1 137.2 321.8 -.7 6.2 -1.1 153.2 76.5 128.2 -.7 0.2 0.4 40.0 52.7 135.2 11.3 -.9 3.2 -23.5 16.5 201.7 -.6 2.7 -3.0 45.2 63.5 335.8 -.7 -.9 1.2 131.9 145.1 237.4 -.5 10.3 -4.3 3.4 106.2 307.7 -.5 -13.0 -.8 -32.1 187.4 419.4 -.4 10.0 1.3 160.7 162.0 228.7 -.4 4.9 3.0 166.6 180.9 Net financial investment 279.9 Net acq. of financial assets -.4 Gold and SDRs (2) -10.1 U.S. checkable dep. 1.3 U.S. time deposits -8.1 Net interbank claims 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 -2.4 -1.7 57.9 72.8 54.3 50.5 4.3 18.1 7.3 10,8 15.4 -36.9 6.6 10.3 -13.3 85.7 74.8 61.5 59.7 1.9 13.3 2.5 10.8 13.2 1.3 -3.7 9.3 -11.3 152.5 112.4 51.8 45.0 6.8 60.6 40.7 19.9 26.0 12.2 2.0 -2.7 -16.3 65,4 23.8 2.4 -1.3 3.6 21.4 19.3 2.1 24.2 12.5 4.9 9.6 17.7 98.3 83.3 -26.1 -29.6 3.5 109.4 85.0 24.4 9.1 2.7 3.1 2.1 19.6 65.9 67.6 7.0 4.3 2.7 60.6 56.0 4.6 18.9 -20.4 -.2 11.1 -.4 93.4 56.0 27.0 22.7 4.3 29.0 -2.5 31.5 28.7 -19.2 27.8 5.7 15.6 123.5 129.3 81.3 76.4 5.4 47.6 13.9 33.7 27.1 -33.9 1.0 -2.2 47.4 221.2 186.1 95.3 91.4 3.9 90.8 32.0 58.8 45.2 -4.2 -5.8 2.5 22.1 127.5 68.9 5.0 4.8 0.2 63.9 37.0 26.9 31.5 10.2 16.9 4.2 -14.0 51.9 15.6 34.6 24.7 9.9 -19.0 -30.6 11.6 48.4 -12.7 0.6 15.7 10.6 113.1 104.3 61.4 52.1 9.3 42.9 31.6 11.3 39.2 -18.0 -12.3 Security RPs U.S. corporate equities Credit market instruments U.S. govt, securities Official, net Treasury Agency Private, net Treasury Agency U.S. corporate bonds (3) Loans to U.S. corp. bus. Open market paper 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 2.9 1.1 7.6 3.5 1.3 4.2 0.1 15.3 1.1 6.5 2.1 2.4 Security credit Trade credit 29 30 31 32 33 34 35 36 42.4 22.9 39.5 -20.2 3.6 19.5 46.4 6.5 28.1 -5.4 -16.2 40.0 6.0 9.5 25.0 -22.5 6.9 -3.5 38.4 17.5 32.2 -8.1 -6.5 20.8 18.3 6.0 16.5 -10.6 0.1 12.3 65.5 13.2 17.4 -7.8 3.5 52.3 100.2 31.6 27.6 -19.4 23.4 68.6 68.4 21.0 23.9 -10.0 7.2 47.3 86.5 19.6 17.8 -.4 2.2 67.0 89.2 55.9 23.4 8.4 24.1 33.3 10.4 10.9 25.6 -12.6 -2.1 -.5 155.5 37.0 27.2 -2.2 12.0 118.5 Miscellaneous assets Fgn. dir. inv. in US (4) Equity Reinvested earnings Intercompany accounts Other 31 32 33 34 35 36 37 -24.3 123.6 184.7 51.7 82.4 185.3 272.4 92.3 201.5 232.0 66.7 99.0 38 39 -5,0 -16.4 3.5 -36.2 -6.5 -12.5 -8.5 43.2 5.1 -23.2 3.4 -11.9 -4.0 -17.1 1.7 -50.7 2.2 -8.6 -.2 24.9 -11.2 35.9 -.6 5.0 40 41 62 23.7 34.3 18.5 29.1 -3.8 1.0 11.1 55.0 18.7 34.8 30.6 12.1 47.8 3.6 26.0 31.6 38.9 66.5 52.1 42.8 45.3 78.6 83.1 84.5 80.0 22.9 41.4 69.4 -66.3 29.0 38.9 -1.9 11.1 14.6 -3.4 6.6 43 44 45 46 6.5 -.3 -1.7 8.4 1.5 0.2 0.7 0.5 14.1 0.5 5.9 7.6 3.9 1.3 1.6 1. 0 -10.3 i .8 -5.4 -6.6 1.5 -1.4 2.3 0.6 6.6 0.4 3.2 3.0 1.0 1.2 2. 0 -2.3 -6.3 -4.0 -2.7 0.5 6.0 1.5 3.3 1.2 -.8 -2.7 -.1 2.0 0.9 1.2 -1.2 0.8 Bank loans n.e.c. Official Banks Other 43 44 45 46 47 48 49 14.9 -5.3 0.3 -8.0 2.5 -.7 27.8 -3.1 -2.4 13.1 -1.2 2.7 -12.1 -1.1 1.2 -21.7 -3.1 -4.4 -.6 -4.9 -3.6 -1.6 -.3 -.6 -12.0 -4.1 4.0 -101.8 2.6 -2.1 -5.2 -4.0 -3.0 -8.1 3.6 -6.3 Commercial paper Accept, liabs. to banks U.S. government loans 47 48 49 50 51 6.9 -1.8 0.1 3.9 2.5 7.2 -.8 -3.8 4.0 -1.6 3.2 3.2 52 53 54 55 56 57 58 59 -68.8 1.8 1.1 35.7 30.8 6.0 -1.1 -107.4 132.7 1.3 0.3 51.0 28.6 -5.3 27.6 80.1 137.5 1.2 0.5 46.1 8.5 34.2 3.3 89.7 -52.3 1.5 -.9 22.8 1.6 24.1 -2.9 -75.8 46.7 1.7 0.3 33.9 19.0 4.9 10.0 10.8 116.1 0.9 1.3 24.8 7.3 10.1 7.4 89.1 199.4 1.1 1.6 87.4 25.9 42.7 18.8 109.4 -16.5 1.0 2.3 35.2 16.6 39.7 -21.2 -55.0 100.9 1.6 -4.0 84.1 19.9 25.7 38.5 19.2 205.7 0.9 -.5 79.7 11.8 8.0 59.9 125.6 1.9 1.4 0.7 50.8 9.4 48.6 -7.3 -51.0 80.1 1.6 0.8 55.0 10.0 16.6 28.4 22.8 60 -55.0 -47.0 -83.1 -16.7 32.8 51.8 25.4 -46.3 7.0 -71.0 -26.9 61 62 63 64 65 -13.8 14.1 19.1 -18,8 -9.9 11.0 27.7 -26.6 -31.2 7.8 30.7 -54.1 -37.8 5.9 27.9 -59.8 -42.2 -2.2 41.1 -85.5 -49.6 a.o 26.7 -68.3 -63.4 3.3 28.8 -88.9 -77.0 8.5 30.3 -98.8 -71.1 -2.0 40.1 -113.2 -86.7 -.7 29.0 -116.4 -97.6 -7.4 30.1 -135.1 Net increase in liabilities U.S. off. fgn. exchange and net IMF position U.S. private deposits 38 39 Security debt Trade debt 50 51 Miscellaneous liabilities U.S.equity in IBRD, etc. U.S. govt, deposits U.S. dir. inv. abr.(3,4) Equity Reinvested earnings Intercompany accounts Other 52 53 54 55 56 57 58 59 Memo: Net U.S. exports, NIPA basis * Net U.S. factor income (6) - Net transfer payments to fgn ♦ Net capital grants received = Net fgn. investment in U.S. (NIPA basis) (1) Line 1 minus line 5; also equal to line 65 with the sign reversed. (2) U.S. net sales, sign reversed. (3) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net Inflows from those bond issues. (4) Direct investment is valued on a current-cost basis. Excludes capital gains/losses. Components of direct investment--equity, reinvested earnings, and intercompany accounts--are not available before 1982. (5) Balance of payments discrepancy adjusted to NIPA concepts. (6) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP. BILLIONS OF DOLLARS 37 Foreign corporate equities 40 Credit market instruments 41 Corporate bonds 42 -22.7 Discrepancy (FOF basis) (5) -114.5 -10.7 33.0 -158.2 9 60 61 62 53 64 65 DECEMBER 7, 1994 Banking System Banking System F.110-F.Ill Monetary Authority and Commercial Banking 21 ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1986 1985 1987 1988 1989 1990 1991 1992 1993 F.110 Monetary Authority (1) x 0.1 0.3 0.1 0.4 0.1 -1.5 0.1 -2.3 0.2 -2.0 0.2 0.2 0.2 -1.5 0.2 -2.2 0.2 -.6 0.2 1.0 0.2 0.7 0.3 1 2 3 Net acq. of financial assets 4 Gold and foreign exchange Treasury currency 5 SDR certificates 6 Federal Reserve float 7 8 F.R. loans to domestic banks Security RPs 9 12.4 0.5 0.6 1.3 1.0 -.9 2.1 9.4 -1.7 0.7 -1.2 0.2 -3.8 14.6 0.5 0.7 -.7 2.7 31.9 0.4 0.5 0.3 0.3 -1.5 10.8 10.8 -3.8 0.6 -.5 2.3 -14.7 18.5 2.5 0.6 0.5 -1.6 5.5 11.2 12.6 O.S 3.5 -.2 -1.7 -4.7 28.0 1.3 0.8 1.5 1.5 -.3 16.2 22.4 -3.2 0.7 -1.5 X 24.9 2.0 0.6 0.1 0.1 -.5 3.2 -2.5 15.8 -2.2 0.4 -2.0 2.2 0.5 -7.3 42.1 0.4 0.6 -2.3 -.6 5.1 3 4 5 6 7 8 9 Credit market instruments U.S. government securities Treasury Agency Acceptances Bank loans n.e.c. Miscellaneous assets 7.7 7.7 7.9 -.2 0.1 14.7 14.7 15.0 -.3 0.5 8.4 8.4 8.7 -.3 3.0 18.4 18.4 18.6 -.2 1.0 19.4 19.4 19.8 -.4 1.7 24.7 24.7 24.9 -.3 2.2 10.5 10.5 11.1 -.6 0.4 -7.3 -7.3 -6.9 -.4 8.2 8.1 8.1 8.3 -.2 -1.2 31.1 31.1 31.4 -.3 -2.2 27.9 27.9 28.5 -.6 -3.2 36.2 36.2 37.0 -.8 2.6 10 11 12 13 14 15 16 12.3 1.3 0.9 9.3 -5.0 1.5 14.4 0.4 3.2 24.8 6.8 1.3 31.8 19.5 0.1 10.6 -6.3 -.8 18.4 -2.4 2.7 11.1 -3.8 1.1 27.8 3.1 3.9 22.2 -9.2 1.0 15.4 2.7 -1.7 41.8 17 2.9 18 0.3 19 10.2 0.7 -.2 9.7 13.0 -1.3 10.3 1.7 12.4 -1.9 -.2 14.4 -.1 0.1 -.2 16.7 -2.3 -.1 19.0 1.0 0.2 0.8 18.1 3.3 0.1 14.7 X 9.5 -2.4 0.2 11.7 4.2 0.1 4.1 25.2 2.8 -.2 22.6 -4.4 0.2 -4.6 29.2 8.8 0.6 19.8 1.2 0.2 1.0 17.6 -10.3 -.7 28.6 -3.1 0.4 -3.5 -2.6 -2.4 X -1.8 -2.6 -1.0 0.3 1 Gross saving 2 Fixed nonres. investment 10 11 12 13 14 15 16 17 Net increase in liabilities 18 Depository inst. reserves 19 Vault cash of comm, banks 20 21 22 23 24 25 26 Checkable dep. and currency Due to U.S. government Due to rest of the world Currency outside banks Miscellaneous liabilities Federal Reserve Bank stock Other 27 Discrepancy X X 0.1 -.1 14.3 -.1 0.1 -.2 8.6 0.5 0.2 0.4 16.6 4.1 0.1 12.4 0.1 0.2 -.1 -.2 0.1 0.1 -1.8 X X 0.1 X 37.1 7.2 0.1 29.8 1.0 0.3 0.6 X 20 21 22 23 24 25 26 27 (1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve 3oard. F.lll Commercial Banking (2) 1 Gross saving 2 Fixed nonres. investment 3 Net acq. of financial assets 4 Checkable dep. and currency 5 6 7 8 9 10 Total bank credit U.S. government securities Treasury Agency Tax-exempt securities Corporate and fgn. bonds 11 12 13 14 15 16 Total loans Mortgages Consumer credit Bank loans n.e.c. Open market paper Security credit 17 18 Mutual fund shares Corporate equities 19 20 21 22 Cust. liabs. on acceptances Vault cash Reserves at Federal Reserve Miscellaneous assets 23 Net increase in liabilities Checkable deposits 24 U.S. government 25 Rest of the world 26 27 Private domestic 15.6 17.9 17.2 17.7 18.1 20.3 24.8 23.5 27.5 26.2 28.5 28.1 27.4 33.2 36.2 37.3 28.7 35.9 42.2 33.8 51.6 34.2 56.4 34.5 1 2 173.0 0.5 156.3 0.2 208.4 0.5 249.4 0.4 248.0 -.1 171.0 -.8 178.0 -.6 279.7 -.4 106.8 -.1 103.3 -.8 182.6 -.5 239.0 -.3 3 4 105.3 27.3 20.3 7.0 4.5 0.7 138.9 46.6 45.5 1.1 3.7 5.2 175.9 0.9 2.0 -1.1 12.5 5.6 208.9 6.5 7.9 -1.4 57.1 9.2 197.9 45.9 8.3 37.6 -28.4 22.2 124.6 26.1 -3.3 29.4 -29.1 24.8 158.3 21.7 -9.1 30.8 -22.7 10.9 183.3 35.2 55.2 -17.8 4.3 130.2 61.1 6.8 54.3 -16.4 4.6 105.7 111.3 60.4 50.9 -14.2 7.6 115.9 104.7 61.9 42.8 -5.7 -1.6 163.9 5 72.5 6 27.8 7 44.7 8 1.7 9 3.5 10 72.8 16.0 6.7 49.8 0.3 83.4 29.2 22.7 28.4 0.5 2.4 156.9 44.6 45.2 63.1 -1.8 5.8 136.0 49.7 37.5 40.7 -2.9 11.0 158.1 70.1 24.8 70.2 -1.1 -5.8 102.9 86.2 16.5 2.8 2.6 -5.3 148.4 77.8 33.1 39.1 -1.2 -.5 161.9 94.3 22.8 40.7 -.2 4.3 83.6 78.6 1.9 2.2 2.8 -2.0 -3. 1 31.9 -14.5 -29.1 -2.0 10.6 18.5 19.3 -6.9 -9.4 -1.4 16.9 -.1 0.1 -.1 -.1 -.3 -2.5 1.8 2.3 -.4 0.3 X X X X -.1 X -20.0 83.6 47.2 34.0 -8.3 -1.9 12.7 11 12 13 14 15 16 0.5 17 2.1 18 7.7 0.9 1.0 57.5 6.9 1.5 -6.0 14.9 3.8 3.2 -.5 25.5 -9.5 1.3 5.1 43.1 -5.6 0.1 17.8 37.9 5.4 -.8 -5.6 48.2 -2.3 2.7 -2.8 22.7 -2.1 1.1 -3.0 100.7 -9.8 3.9 4.2 -21.6 -10.2 1.0 -8.8 16.3 -3.6 -1.7 2.5 70.0 -6.4 0.3 2,5 78.5 19 20 21 22 175.3 19.3 6.1 -3.4 16.6 165.0 15.0 -5.3 1.6 18.8 214.8 28.7 4.0 2.1 22.6 248.7 54.2 10.3 1.4 42.6 244.0 94.5 1.7 2.9 90.0 178.9 -19.7 -5.8 -1.3 -12.6 208.6 17.1 7.3 -.6 10.4 259.9 -3.4 -3.4 -.1 0.1 104.8 21.4 5.3 -.1 16.1 112.9 37.7 5.5 -2.0 34.2 191.8 93.1 -5.9 2.3 96.7 233.0 74. 1 12.1 -.4 62.4 23 24 25 26 27 -11.9 28 -21.0 29 41.5 30 28 29 30 Small time and savings dep. Large time deposits Fed. funds and security RPs 97.3 12.2 9.2 130.9 -46.6 14.8 75.1 37.8 1.6 81.8 11.0 31.3 74.3 1.5 19.2 27.9 41.4 10.2 74.0 41.8 20.8 100.7 28.9 37.9 123.0 -22.1 -25.6 78.9 -24.0 -19.3 2.7 -66.8 18.2 31 32 33 34 Net interbank claims To monetary authority To domestic banks (3) To foreign banks -4.6 0.1 -1.1 -3.5 0.3 -1.0 -10.9 12.2 10.3 2.0 5.5 2.8 21.5 -.4 5.3 16.6 11.7 -1.2 -2.8 15.7 52.5 1.8 -4.0 54.7 1.7 -1.2 -3.0 5.9 -13.5 -1.9 -4.4 -7.2 28.4 1.2 1.6 25.6 4.4 -1.5 26.2 -20.3 60.8 2.7 -4.9 62.9 38.4 -2.9 4.2 37.1 31 32 33 34 35 36 37 38 39 Corporate equity issues Credit market instruments Corporate bonds Open market paper Fed. Home Loan Bank loans 0.6 18.8 6.3 12.5 - 0.8 18.4 9.7 8.7 - 1.1 23.3 13.5 9.8 - 1.4 11.7 18.9 -7.1 - 1.4 7.0 16.1 -9.1 - 1.5 20.5 13.5 7.1 - 2.5 2.2 5.1 -2.9 - 1.5 4.3 4.7 0.1 - 2.1 -28.4 -4.8 -24.0 0.4 0.9 -14.2 4.2 -20.1 1.6 4.3 11.1 14.5 -7.7 4.3 1.9 14.4 7.2 -2.5 9.7 35 36 37 38 39 40 41 Taxes payable Miscellaneous liabilities -.1 22.6 -.1 31.6 36.9 0.1 35.7 34.5 0.1 44.7 0.2 48.4 0.2 102.7 -.2 6.2 43.6 0.2 68.2 0.5 40 95.2 41 42 Discrepancy 43 Memo: Cred. mkt. funds adv.(4) X 113.1 X X 8.1 4.3 0.7 -2.7 8.4 24.8 -20.9 -9.1 18.0 26.6 16. 0 42 143.3 174.0 188.4 198.1 135.4 156.5 177.2 125.1 80.8 95.3 142.2 43 (2) U.S.-chartered commercial banks, foreign banking offices in U.S., bank holding companies, and banks in U.S.-affiliated areas. IBFs are excluded from domestic banking and treated the same as branches in foreign countries. (3) Floats and discrepancies in Interbank deposits and loans. (4) Total bank credit (line 5) less security credit (line 16) less mutual fund shares (line 17) less corporate equities (line 18), plus customer liabilities on acceptances (line 19). BILLIONS OF DOLLARS. X DECEMBER 7, 1994 Banking System Banking System F.llO-F.lli Monetary Authority and Commercial Banking SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES 1991 IV 1992 1 1 I II III IV 1 1 1993 I II III IV 1 1 I 1994 II III F.110 Monetary Authority (1) 1 2 -.7 0.2 1.0 0.2 1.0 0.2 0.9 0.2 0.9 0.2 0.7 0.3 0.7 0.3 0.7 0.3 0.7 0.3 0.7 0.3 0.7 0.3 3 4 5 6 7 8 9 52.5 -2.5 0.7 3.0 -.4 23.4 -7.9 2.0 0.3 -2.1 -.7 -20.6 8.5 -3.3 O.S -2.7 5.2 -8.4 105.2 -4.5 0.3 -.2 -3.0 84.6 -42.5 -2.9 0.4 -8.0 13.9 0.3 -86.8 72.2 1.2 0.5 -11.7 0.3 35.9 77.6 -1.4 0.5 -.5 3.1 32.7 19.7 0.8 0.6 2.7 5.5 -17.7 -1.1 0.9 0.9 M -11.3 -30.4 61.1 -.1 0.9 -1.9 1.5 12.0 37.1 -5.1 0.8 1.7 1.0 18.1 10 11 12 13 14 15 16 17.2 17.2 17.6 -.4 11.1 27.2 27.2 27.5 -.3 -14.1 20.0 20.0 21.0 -1.0 -2.8 16.1 16.1 16.9 -.7 11.8 48.2 48.2 48.7 -.5 -7.7 42.5 42.5 43.7 -1.2 3-4 35.7 35.7 36.0 -.4 7.4 28.2 28.2 29.1 -.9 -.4 38.5 38.5 39.2 -.7 0.2 48.8 48.3 50.4 -1.6 -.1 17.9 17.9 19.1 -1.2 2.7 17 18 19 58.1 -1.0 3.8 -9.8 3.3 3.1 2.3 -11.0 -‘.7 111.1 10.3 -1.9 -41.9 8.0 -7.5 70.8 12.7 14.5 78.4 -9.2 4.4 16.9 -2.7 -6.2 0.9 10.7 -9.5 56.8 5.2 14.4 36.3 11.4 9.7 20 21 22 23 24 25 26 60.6 41.3 1.6 17.6 -5.3 0.3 -5.7 -10.5 -23.9 -2.4 15.8 -5.8 0.4 -6.1 25.3 1.7 -.6 24.2 -11.3 0.3 -11.6 87.9 51.6 1.3 34.9 14.8 0.6 14.2 -32.4 -70.7 -1.3 39.6 -10.0 0.3 -10.3 34.4 18.0 0.4 16.0 9.2 0.5 8.7 93.7 60.6 -.1 33.2 -10.4 0.4 -10.9 5.3 -35.0 0.9 39.5 20.4 0.2 20.3 15.0 -14.8 -.5 30.3 -15.3 0.3 -15.6 29.0 - i 1.4 0.3 40.1 8.2 0.2 8.0 21.0 -15.2 0.6 35.6 -5.8 0.3 -6.1 27 4.8 -1.1 -5.4 6.6 1.3 -1.0 1.3 -2.4 2.4 -4.0 -.4 0.7 Gross saving 0.3 Fixed nonres. Investment 5.8 Net acq. of financial assets Gold and foreign exchange 0.2 Treasury currency 0.8 SDR certificates Federal Reserve float -2.7 -.8 F.R. loans to domestic banks -18.2 Security RPs 24.0 24.0 24.5 -.5 2.4 Credit market instruments U.S. government securities Treasury Agency Acceptances Bank loans n.e.c. Miscellaneous assets 6.2 Net increase in liabilities -26.5 Depository inst. reserves -17.8 Vault cash of comm, banks 34.7 3.4 -1. 0 32.3 15.7 0.3 15.4 Checkable dep. and currency Due to U.S. gove-nment Due to rest of the world Currency outside b3nxs Miscellaneous liabilities Federal Reserve 3ank stock Other 0.8 Discrepancy 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 (1) Assets and liabilities of Federal Reserve Banks ano Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board. F.lll Commercial 3anking (2) 1 2 45.7 34.2 48.6 34.0 49.9 33.9 54.7 34.3 53. 1 34.4 50.2 34.8 54.0 35.0 59.8 33.9 61.8 34.2 52.4 33.5 55.7 33.4 3 4 97.1 -.5 223.2 -.3 256.2 -.4 174.8 -.5 76.1 -.7 265.5 -.5 323.6 -.6 97.6 -.3 269.2 0.3 232.5 0.3 345.4 1.3 5 6 7 8 9 10 129.1 156.6 84.1 72.5 -9.6 12-5 123.5 101.2 60.6 40.6 -10.0 -7.3 64.2 110.6 62.4 48.2 -7.5 -5.6 194.9 125.8 72.2 53.5 0.4 12.9 30.9 81.2 52.5 28.7 -5.8 -6.3 85.6 110.1 30.4 79.7 -6.6 15.1 182.8 47.1 6.5 40.7 3.1 -3.3 148.4 49.6 15.6 34.0 10.1 5.5 233.9 83.3 58.8 24.5 -3.4 171.6 67.7 57.6 10.1 1.3 -3.7 97.0 -22.7 -37.2 14.5 -1.4 5.8 150.9 -85.3 -82.7 -2.6 -2.5 9.2 11 12 13 14 15 16 -31.4 23.1 -15.0 -42.1 2.6 37.2 34.9 -3.1 -8.9 -.4 14.7 -31.3 -11.0 -9.1 -12.0 -1.8 2.6 55.5 40.7 -13.0 -1 . 1 -3.9 32.8 12.9 12.6 -2.5 -15.3 0.3 17.7 -35.5 6.5 29.2 -49.2 -2.3 -19.7 136.7 49.7 33.6 19.2 -5.9 40.1 80.4 63.2 33.3 -7.3 -2.6 -6.2 152.9 69.3 39.7 4.2 3.2 36.4 111.4 9.2 49.7 61.9 -6.4 -3.0 116.7 45.3 65. 1 27.1 -1.2 -20.1 230.2 116.3 67.1 76.8 -.9 -29.1 17 13 1.0 2.9 -.4 -1.9 -.1 1.5 -1.1 -4.0 3.0 1 .5 1.0 -1.5 0.6 1.5 1.3 0.6 5.6 -3.6 -2.0 -2.6 1.2 -1.2 0.5 19 20 21 22 -12.0 3.8 -2.2 -21.1 -4.9 3.1 2.6 99.2 -6.2 -.7 -9.1 208.4 -3.0 -1.9 9.8 -24.6 -.5 -7.5 6.7 -2.9 -2.3 14.5 13-5 154.6 -10.2 4.4 -10.6 157.9 -5.0 -6.2 -2.7 -36.5 -3.2 -9.5 9.3 37.9 4.5 14.4 6.0 35.1 -5.9 9.7 11.6 231.6 2.8 -17.8 -25.5 -90.5 23 24 25 26 27 89.0 -20.1 9.9 0.6 -30.5 196.9 169.6 -31.4 2.9 198.1 331.4 60.8 14.5 6.9 39.5 194.9 84.2 6.1 -1.0 79.1 44.0 57.6 -12.7 0.3 69.9 262. 1 82.8 -.6 2.3 81.2 357.3 104.1 9.0 -.3 95.9 108.3 57.0 6.0 9.4 41.6 204.5 52.4 34.0 -12.6 31.0 295.5 158.2 33.6 9.7 114.9 376.2 -35.4 -49.2 4.3 -40.5 28 29 30 23.0 -73.5 21.8 19.7 -51.5 30.2 -1 . -90.5 45.8 -13.1 -40.9 -33.5 15.5 -34.5 30.4 -20.1 -2.3 67.3 -4.4 -28.0 30.3 -31.3 -58.5 59.3 8.2 4.6 9.2 0.6 -36.0 73.5 -8.0 -.2 121.8 -10.6 75.9 -6.5 31 32 33 34 -38.6 2.6 12.3 -54.0 80.5 -2.7 1.2 82.1 142.6 2.5 -13.1 153.2 34.8 -3.2 -2.0 40.0 -14.9 14.2 -5.5 -23.5 36.6 -11.4 2.7 45.2 135.1 2. 7 0.5 131.9 1.3 8.3 -10.4 3.4 -19.3 -11.3 24.0 -32.1 131.2 -.4 -29.1 160.7 174.5 2.6 5.3 166.6 35 36 37 38 39 2.5 -2.5 10.6 -14.9 1.8 2.2 12.6 12.1 -3.2 3.7 4.6 -2.7 6.9 -15.7 6.1 2.9 19.2 19.0 -4.4 4.6 7.7 15.3 20.3 -7.6 3.0 2.5 24.6 14.9 2.3 7.4 1.5 12.7 7.9 -6.3 11.0 0.1 7.0 3.4 -8.5 12.1 3.4 13.5 2.8 2.6 a. l 2.4 5.5 -1.3 5.7 1.1 40 41 0.1 176.4 0.1 -66.5 0.2 181.7 0.3 141.0 0.3 16.4 0.4 70.5 0.4 105.6 0.5 72.9 0.5 132.0 0.6 -45.4 42 3.4 -11.7 91.2 40.5 -13.4 12.0 52.7 36.6 -37.1 82.0 53.2 43 116.0 1G1.4 57.4 158.8 63.8 100.5 133.4 146.7 138.1 184.7 112.7 X M M 60.0 Gross saving 32.9 Fixed nonres. investment 21.8 Net acq. of financial assets 1.9 Checkable dep. and currency 3 4 5 Total bank credit 6 U.S. government securities Treasury 7 Agency 8 9 Tax-exempt securities 10 Corporate and fgn. oonds Total loans Mortgages Consumer credit Bank loans n.e.c. Open market paper Security credit 11 12 13 14 15 16 Mutual fund shares Corporate equities 17 18 Cust. liabs. on acceptances Vault cash Reserves at Federal Reserve Miscellaneous assets 65.0 Net increase in liabilities -112.9 Checkable deoosits -50.0 U.S. government -9.1 Rest of tne world -53.7 Private domestic 19 20 21 22 23 24 25 26 27 Small time and savings dap. Large time deposits Fed. funds and security RPs 23 29 30 -.2 -3.5 11.4 -8.1 Net interbank claims To monetary autnority To domestic Danks (3) To foreign banks 31 32 33 34 4.5 20.6 2.2 2.7 15.7 4.7 34.5 5.4 15.9 13.2 Corporate equity issues Credit market instruments Corporate bonds Open market paper Fed. Heme Loan Bank ioans 35 36 37 38 39 0.7 147.7 0.7 79.2 Taxes payable Miscellaneous liabilities 40 41 70.1 Discrepancy 183.5 Memo: Cred. mkt. 42 funds adv.(4) (2) U.S.-chartered commercial banks, foreign banking offices in U.3., bank holding companies, and banks in U.S.-aff iliated areas. .’3fs are excluded from domestic banking and treated the same as branches in foreign countries. (3) Floats and discreoancies in interoanx deposits and loans. (4) Total bank credit (line 5) less security credit (line 16) less mutual- fund shares (line 17) less corporate equities (line 13), plus customer liabilities on acceptances (line 19). BILLIONS OF DOLLARS. 1 2 43 DECEMBER 7, 1994 Commercial Bankins Subsectors Commercial Banking Subsectors F.112-F.113 Commercial Banking Subsectors 23 ANNUAL FLOWS ANNUAL FLOWS 1962 1983 1964 1985 1986 1987 1988 1969 1990 1991 1992 1993 39.4 32.2 F.112 U.S.-Chartered Commercial Banks 9.5 17.1 9.6 16.8 10.3 19.4 15.7 22.5 20.4 25.2 22.1 27.0 18.4 32.1 25.9 36.1 17.3 34.5 30.5 32.1 41.1 32.1 3 Net acq. of financial assets Total bank credit 4 U.S. government securities 5 Treasury 6 Agency 7 Mortgage pool secur. 8 Agency-issued CMOs 9 Other agency secur. 10 111.1 104.2 26.7 19.4 7.3 7.3 130.4 133.9 44.2 43.5 0.7 0.7 165.5 166.2 1.3 2.5 -1.2 -4.2 3.0 191.6 183.4 4.6 7.5 -2.9 -2.4 -.4 175.9 163.8 42.4 5.9 36.5 25.7 10.8 91.3 97.0 24.8 -3.1 27.9 22.3 5.6 127.9 129.0 19.8 -9.4 29.3 14.8 14.4 160.5 155.2 34.0 -20.3 54.2 36.5 17.7 99.1 90.9 54.5 1.7 52.8 21.5 23.3 8.0 33.3 46.6 96.6 50.3 46.3 9.0 34.6 2.7 74.1 72.6 85.5 46.6 38.9 1.8 33.3 3.8 11 12 13 14 15 Tax-exempt securities Corporate and fgn. bonds Private mtg. pool secur. Privately issued CMOs Other bonds 4.6 1.7 1.7 3.8 3.6 3.6 12.6 3.2 x 3.2 57.2 2.3 X 2.3 -28.4 18.4 3.3 15.0 -29.1 20.7 0.1 20.6 -22.7 12.3 -.7 13.0 -17.8 2.4 0.4 2.0 -16.4 3.6 -.3 3.9 -14.1 4.3 0.3 0.4 3.6 -5.7 -3.2 0.3 -6.6 3.1 1.9 0.1 0.9 -1.8 1.0 11 12 13 14 IS 16 17 16 19 20 21 Total loans Mortgages Consumer credit Bank loans n.e.c. Open market paper Security credit 71.2 15.1 6.7 47.9 1.0 0.5 82.3 29.4 22.7 27.3 0.9 2.0 149.1 44.1 45.2 56.0 -.9 4.7 119.3 49.4 37.5 28.8 -3.2 6.8 131.5 67.0 24.8 46.6 -1.0 -5.9 80.6 80.7 16.5 -14.9 1.5 -3.2 119.6 69.1 33.1 18.5 -.7 -.4 136.9 85.4 22.8 24.9 -.6 4.2 51.9 62.4 1.9 -7.8 0.8 -5.4 -44.3 22.5 -14.5 -53.5 -1.0 2.2 -4.1 21.2 -6.9 -19.8 -1.6 3.1 97.3 52.5 34.0 7.8 -1.0 4.1 16 17 18 19 20 21 22 23 Mutual fund shares Corporate equities 1 Gross saving 2 Fixed nonres. Investment - - -.1 -.1 -.3 -2.5 1.3 2.2 -.4 0.4 0.5 22 2.1 23 -11.1 5.7 13.5 -7.3 17.3 2.0 -1.0 -6.0 1.3 -3.1 1.0 0.9 -5.2 -1.8 12.3 -4.1 8.0 4.4 -4.6 -7.5 -1.3 -.1 1.1 0.5 -2.4 24 3.0 25 -1.3 26 179.1 30.2 4.0 3.0 23.2 74.6 33.9 1.9 199.3 51 .8 10.3 X 41.5 80.3 10.8 26.8 178.3 93.2 1.7 2.7 88.8 71.6 -6.6 10.8 104.8 -19.1 -5.8 -1.5 -11.8 27.4 37.7 11.9 166.6 15.8 7.3 -.6 9.1 73.1 35.2 16.3 149.9 -3.5 -3.4 0.1 -.2 96.5 24.0 35.6 107.2 21.7 5.3 -.4 16.8 121.9 -20.5 -33.7 52.6 37.6 5.5 -2.2 34.3 90.0 -73.1 -27.1 91.5 93.1 -5.9 1.7 97.2 2.1 -76.2 17.4 166.1 73.8 12.1 -.3 61.9 -10.9 -20.0 45.4 27 28 29 30 31 32 33 34 6.6 -1.2 0.2 -.1 7.7 5.3 -.7 2.7 4.6 -1.2 8.4 0-1 -.5 -1.7 10.5 -4.7 0.3 -1.5 -.9 -2.6 32.3 -.5 2.3 2.2 28.3 1.3 0.5 -1.6 0. I 2.4 -21.2 -.2 -1.7 -14.0 -5.4 8.7 1.5 -.3 -9.9 17.4 7.8 -1.5 X 17.9 -8.6 19.0 2.2 0.5 14.6 1.7 19.5 -2.3 -.6 11.9 10.6 35 36 37 38 39 0.8 -.2 3.0 -.1 16.9 15.5 1.4 1.1 3.6 -3.6 w 32.0 18.9 13.1 1.4 4.5 -10.9 0.1 26.0 15.6 10.3 1.4 2.2 -8.7 X 19.1 16.7 2.4 1.5 0.7 -1. 0 0.1 13.6 19.8 -6.2 2.5 -.3 -3.3 0.2 25.7 21.3 4.4 1.5 2.9 -5.3 a.2 19.4 8.6 10.8 2.1 4.2 -4.4 0.4 -.2 7.0 5.4 1.6 0.9 0.9 -4,7 1.6 X 28.6 19.4 9.2 4.3 8.4 -.1 4.3 0.2 19.0 27.8 -8.8 1.9 3.6 -2.5 9.7 0.5 45.2 31.6 13.6 40 41 42 43 44 45 46 47 - - Cust. liab. on acceptances Vault cash and res. at F.R. Miscellaneous assets 7.0 1.5 -1.6 4.6 -3.9 -4.2 -2.8 2.5 -.3 27 Net increase in liabilities Checkable deposits 28 29 U.S. government Rest of the world 30 Private domestic 31 Smail time and savings dep. 32 Large time deposits 33 34 Fed. funds & sec. RPs, net 118.6 20.9 6.1 -2.2 17.1 96.4 2.3 9.2 146.0 15.6 -5.3 1.4 19.5 130.3 -38.7 11.3 35 36 37 38 39 Net Interbank claims Federal Reserve float Borrowing from r.R. banks To domestic banking To foreign banks -27.8 r.o -.9 -2.0 -25.9 40 41 42 43 44 45 46 47 Corporate equities Corporate bonds Acceptance liabilities Fed. Home Loan 3ank loans Taxes payable Miscellaneous liabilities Inv. by bank holding cos. Other 0.6 0.6 9.5 -.1 7.4 16.2 -8.8 46 Discrepancy 49 Memo: Credit mkt. funds adv. 0.2 8.3 4.5 0.9 -2.4 8.5 24,9 -20.8 -9.1 17.7 26.4 15.8 48 HO.7 136.5 158.7 165.6 162.5 99,2 126.4 146.1 94.9 35.7 69.5 149.6 49 F.113 Foreign Banking Offices in U.S. 1 Gross saving 2 Fixed nonres. 157.5 3 158.7 4 56.8 5 20.6 6 36.2 7 17.6 8 9 ll.l 7.5 10 - - 24 25 26 1 2 (1) 0.2 0.4 0.2 0.5 0.3 0.5 0.3 0.6 0.3 0.6 0.4 0.7 0.4 0.7 0.4 0.8 0.6 1.0 1.0 1.4 1.3 1.7 1.4 1.9 1 2 42.2 1.0 0.8 0.8 X -.1 0.1 1. 0 1.9 1.7 1.6 0.1 -.1 0.4 13.0 7.3 -.6 -.6 -.1 -.1 1.8 22.7 19.1 0.4 X 0.5 -.1 3.5 42.2 33.4 3.6 2.1 5.0 49.2 25.5 0.9 -.4 1.2 3.0 30.5 28.6 1.2 0.1 1.1 -.7 93.5 23.3 0.1 -.2 0.3 1.1 8.0 37.6 6.9 5.0 1.9 2.9 71.5 62.5 13.4 9.4 4.0 3.7 65.3 34.0 11.7 8.7 2.9 1.0 34.4 2.8 13.9 6.5 7.4 1.4 3 4 5 6 7 8 9 0.1 1 .1 0.2 -.7 -.5 X -.1 0.2 -.4 -.4 0.5 X 6.3 0.4 5.7 -.9 1.1 -.1 15.1 10.5 0.3 4.2 0.1 24.8 2.9 21.9 -.2 0.1 w 21.7 5.2 17.4 1.2 -2.1 -.1 28.1 8.1 20.5 -.5 -.1 X 22.6 8. 1 14.0 0.4 0.1 X 27.7 15.3 6.9 2.0 3.4 - 45.4 3.8 29.3 -1.0 8.4 w 21.3 -2.7 9.9 0.2 13.9 w -12.5 -6.5 -13.7 -.9 8.6 - 10 11 12 13 14 15 0.9 0.3 40.1 2.2 -.7 -2.5 6.6 0.3 -1.2 1.6 0.7 1.2 1.7 0.6 6.5 6.5 -.4 17.6 0.7 -l.l 2.3 3.1 X 66.7 -5.7 0.2 -24.0 -5.6 -.3 14.9 -3.6 -.3 35.2 -4.0 16 0.3 17 35.5 18 19 Net increase in liabilities 20 Checkable deposits Small time and, savings dep. 21 22 Large time deposits 23 Fed. funds a sec. RPs, ne-t 42.4 -1.7 0.9 9.8 - 1.3 0.3 -.9 -8.7 3.5 13.3 -1.0 0.5 3.9 -.3 23.0 2.1 1.1 -.2 4.5 42.6 0.9 2.2 7.6 8.4 49.6 -.6 0.6 3.3 -1.7 30.9 1.0 0.5 6.3 4.5 93.9 -.3 3.7 4.4 2.3 8.6 0.4 -1.0 -3.7 8.4 72.1 0.2 -.1 50.1 3.8 65.9 -.6 0.2 9.0 0.7 35.1 X -.8 -.8 -4.3 24 25 26 Net interbank claims To foreign banks To domestic banxs 27.0 24.6 2.3 3.8 7.6 -3.8 3.1 4.6 -1.5 11.6 6.6 5.0 15.8 17.0 -1.2 15.0 22.9 -7.9 4.0 1.8 2.3 4.7 -3.7 a. a 8.2 7.3 0.4 1.8 -5.6 7.5 38.2 55.3 -17.0 27 28 ’9 30 31 Acceptance liabilities Miscellaneous liabilities Fgn. direct invest, in US Due to affiliates Other 1.6 4.9 1.5 1 .9 1.5 2.2 1.0 0.9 2.2 -2.1 7.3 X 1.7 0.3 -2.0 1.5 2.4 1.4 2.2 -1.3 2.8 4.8 1.6 4.2 -.9 6.6 25.8 1.7 7.2 16.9 0.5 14.0 2.7 12.8 -1.5 1.0 78.0 2.3 2.6 73.1 -.9 -3. 0 0.9 -1.8 -2.0 -9.6 20.9 3.6 -17.3 34.6 -3.8 22.1 1.8 -8.8 29.2 investment 3 Net acq. of financial assets 4 Total bank credit U.S. government securities 5 Treasury 6 7 Agency 8 Tax-exempt securities 9 Corporate bonds 10 ll 12 13 14 15 16 17 18 Total loans Mortgages Bank loans n.e.c. Open market paper Security credit Corporate equities Cust. liab. on acceptances Reserves at Fed. Reserve Miscellaneous assets 32 Discrepancy 33 Memo: Credit mkt. funds adv. a. i 19 20 21 22 23 17.7 24 30.0 25 -12.3 26 -5.1 28.4 3.8 2.3 22.3 27 28 29 30 31 0.1 0.1 O.l 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 32 2.2 3.7 12.9 16.4 35.0 34.2 29.4 26.7 23.4 48.5 16.5 -9.8 33 (1) Branches and agencies of foreign banks, Edge Act and iAgreement corporations, New York investment companies, and American Express Bank. BILLIONS OF DOLLARS. r.s DECEMBER 7, 1994 Commercial Banking Subsectors Commercial Banking Subsectors F.112-F.113 Commercial Banking Subsectors SEASONALLY ADJUSTED ANNUAL RATES 1991 I IV 1 SEASONALLY ADJUSTED ANNUAL RATES 1992 ][ II III 1 1 IV 1993 I II III IV 1 1 I 1994 II III 35.5 Gross saving 30.4 Fixed nonres. F.112 U.S. -Chartered Commercial Banks 1 2 40.0 32.3 36.8 32.6 39.4 32.7 41.8 31.5 39.5 31 .8 30.7 31.0 31.8 30.9 112.3 137.6 105.5 57.1 48.4 -5.8 55.6 -1.4 22.1 56.6 58.3 31.3 27.0 9.5 12.9 4.5 190.0 105.8 90.0 22.5 67.5 31.0 27.0 9.5 155.5 150.7 39.5 3.7 35.8 14.9 27.9 -7.0 110.7 169.1 43.5 14.1 29.4 11.0 4.1 14.3 173.8 209.5 54.3 42.2 12.1 13.6 -14.6 13.1 241.3 120.5 37.3 42.8 -5.5 19.9 -6.7 -18.6 191.4 108.7 -20.5 -34.4 14.0 22.4 -19.0 10.7 -7.5 -6.5 -.3 -10.9 4.7 0.5 4.5 -.2 -1.6 6.3 -5.7 -7.1 2.2 -7.4 -1.8 -6.4 11.9 5.9 -.2 6.3 3.5 -5.3 0.1 -2.9 -2.5 10.4 -2.1 -2.8 4.3 -3.5 0.1 -4.2 O.S -8.4 3.7 1.6 -5.0 0.9 3.9 -9.3 -1.7 -4.5 -1.3 -.6 -2.6 -3.1 0.1 0.9 -1.9 1.1 10.2 34.7 -3.1 -27.1 -5.0 10.7 -65.4 -12.5 -9.1 -31.3 -2.7 -9.9 26.9 43.3 -13.0 -12.3 1.3 7.6 12.0 19.2 -2.5 -8.5 -.2 4.0 7.7 10.3 29.2 -29.4 2.6 -5.5 114.5 53.2 33.6 21 .5 -5.8 11.9 113.9 66.6 33.3 9.2 -.6 5.4 153.1 79.2 39.7 29.9 -.2 4.5 92.1 14.4 49.7 24.6 -3.8 7.2 136.8 49.3 65.1 43.2 -1.7 -19.1 221.5 120.1 67.1 49.6 -.7 -14.7 2.9 -.3 -1.9 -.1 1.5 -1 .1 -4.0 3.0 1.5 1. 0 -1.5 l.S 1.8 0.6 5.7 -3.6 -1.9 -2.6 1.2 -1.2 0.5 -3.4 1.2 -36.7 -1.5 6.3 60.3 -2.1 -8.6 11.4 3.5 5.0 -33.8 -.2 1.6 -35.9 -5.3 26.0 63.6 -2.9 -5.0 12.7 -11.4 -46.9 -1.4 2.3 -36.6 1.7 21.9 97.2 -.9 20.7 63.0 1.7 -42.3 -93.1 27 28 29 30 31 32 33 34 8.8 -21.7 9.9 -.3 -31.3 32.6 -90.8 14.0 141.8 172.9 -31.4 1.5 202.7 21.9 -79.2 20.4 83.5 59.8 14.5 7.0 38.3 -14.6 -74.3 1.2 140.0 82.2 6.1 -1.7 77.9 -10.9 -64.3 18.6 0.8 57.4 -12.7 0.1 69.9 12.1 -86.9 29.4 197.5 82.3 -.6 3.2 79.7 -20.4 -18.4 74.4 201.3 103.0 9.0 -2.8 96.8 -6.8 -24.7 31.3 136.8 54.1 6.0 9.5 38.6 -22.6 -27.1 73.6 128.7 55.7 34.0 -11.0 32.7 6.3 -9.9 2.3 322.1 156.4 33.6 10.6 112.2 1.5 -2.5 68.3 241.8 -84.4 -49.2 3.8 -39.0 -10.1 8.9 119.7 35 36 37 38 39 9.4 3.0 -.4 35.1 -28.2 7.1 -2.1 -.7 -2.2 12.0 43.4 -2.7 5.2 41.2 -.4 53.8 -.2 -3.0 16.4 40.7 -28.2 13.9 0.3 3.1 -45.5 3.7 -11.7 0.3 0.7 14.4 44.7 -.5 3.1 28.4 13.6 19.0 2.7 5.5 -4.3 15.0 10.6 -11.3 22.5 -.6 16.4 -1.9 1.5 -42.7 59.5 154.3 1.7 1.0 57.1 94.6 54.7 -2.7 -.8 -4.0 62.3 Net interbank claims Federal Reserve float Borrowing from F..R. Danks To domestic banking To foreign banks 35 36 37 38 39 40 41 42 43 44 45 46 47 2.5 1.9 -3.4 1 .8 0.1 62.3 26.6 35.7 2.2 0.1 -1.6 3.7 0.1 -5.6 -16.9 11.3 4.6 10.0 -2.2 6.1 0.2 49.3 51.2 -1.9 2.9 10.8 3.4 4.6 0.3 38.7 33.0 5.7 7.7 12.5 -.1 3.0 0.3 -6.4 43.8 -50.2 2.5 2.9 -5.6 7.4 0.4 68.4 33.0 35.5 1.5 9.9 -2.5 11.0 0.4 33.5 30.6 2.9 0.1 0.2 -.4 12. 1 0.5 27.3 32.9 -5.7 3.4 1.5 -1.6 8.1 0.5 51.6 30.1 21 .5 2.4 -.4 1.7 1.1 0.6 76.4 16.5 60.0 4.5 0.8 -1.0 15.7 0.7 32.8 9.7 23.1 4.7 4.7 1.6 13.2 0.7 93.9 15.4 78.6 Corporate equities Corporate bonds Acceptance liabilities Fed. Home Loan 3ank loans Taxes payable Miscellaneous liabilities Inv. by bank holding cos. Other 40 41 42 43 44 45 46 47 48 3.2 -11.9 91.0 40.2 -13.6 11.8 52.4 36.3 -37.4 80.5 51.3 49 50.5 31.1 10.1 133.3 53.4 103.4 137.4 160.3 197.3 120.6 128.4 1 2 36.6 32.4 39.3 32.1 40.4 31 .8 3 4 S 6 7 8 9 10 9.8 48.7 120.6 59.7 60.9 7.4 44.7 8.9 160.9 95.8 96.6 56.6 40.0 9.1 32.9 -1.9 1.0 0.3 81.7 41.3 40.4 -5.6 31.9 14.1 11 12 13 14 IS -9.6 3.0 0.6 2.4 -9.9 -3.6 -.4 -6.5 3.4 16 17 18 19 20 21 -66.3 15.6 -15.0 -61.5 0.7 -6.2 22 23 1.0 24 25 26 X X 44.8 32.2 . X K X F.113 Foreign Banking Offices in U.S. investment 13.5 Net acq. of financial assets 3 4 147.7 Total bank credit U.S. government securities 5 -70.2 Treasury -69.8 6 -.4 7 Agency -3.1 Mortgage pool secur. 8 9 -13.9 Agency-issued CMOs 10 Other agency secur. 16.6 Tax-exempt securities Corporate and fgn. bonds Private mtg. pool secur. Privately issued CMOs Other bonds 11 12 13 14 15 Total loans Mortgages Consumer credit Bank loans n.e.c. Open market paper Security credit 16 17 18 19 20 21 Mutual fund shares Corporate equities 22 23 Cust. liab. on accectances Vault cash and res. at F.R. Miscellaneous assets 24 25 26 76.6 Net increase in liabilities -113.1 Checkable deposits -50.0 U.S. government Rest of the world -9.2 -53.8 Private domestic -5.6 Small time and savings dep. 16.3 Large time deposits 5.3 Fed. funds 8 sec. RPs, net 27 28 29 30 31 32 33 34 68.3 Discrepancy 164.7 Memo: 48 Credit mkt. funds adv. 49 Cl) 1 2 1.2 1.5 1.2 1.6 1.3 1.7 1.4 1.8 1.4 1.8 1.4 1.8 1.4 1.9 1.4 1.9 1.5 1.9 2.9 2.0 3.2 2.0 3 4 5 6 7 8 9 82.3 80.8 34.3 25.7 8.6 10.2 38.1 18.1 -6.4 -8.7 2.3 -2.4 206.4 61.5 27.0 19.7 7.2 -.2 -3.0 35.8 7.9 7.0 0.9 6.2 19.5 20.5 18.3 17.0 1.3 0.4 38.3 -18.7 20.7 8.9 11.8 3.0 104.8 21.8 3.2 - .6 3.8 -1.5 -40.1 -24.1 5. 1 1.0 4.1 3.6 34.7 32.1 26.6 16.7 9.8 0.6 -30.0 46.0 26.9 12.4 14.4 * 145.0 -13.8 0.2 1.4 -1.2 8.9 -38.9 Net acq. of financial assets 3.7 Total bank credit -11.9 U.S. government securities Treasury -8.8 Agency -3.1 Tax-exempt securities 7.9 Corporate bonds 10 11 12 13 14 15 36.3 7.0 21.2 1.9 6.2 0.1 27.1 -.4 18.8 4.6 4.0 -.1 34.7 0.7 20.5 0.9 12.5 - 21.6 -3.5 5.1 -5.2 25.2 * 1 .8 -7.6 -4.7 0.5 13.7 -42.4 -5.5 -17.9 -4.9 -14.2 - 19.5 -4.9 -3.7 -.1 28.2 0.6 -32.3 -4.8 -13.9 -2.0 -11.6 -.6 5.0 -11.0 -19.3 3.5 31.9 -.1 19.2 -6.1 38.0 -2.5 -10.2 -22.9 -4.2 -18.3 0.6 -1 . 0 - 7.7 -4.3 26.5 -.2 -14.4 16 17 18 -8.6 0.4 9.6 -3.4 -.6 24.1 -4.0 -1.2 150.2 -6.5 2.9 -35.2 -.3 -2.3 1.7 3.1 2.1 51.8 -7.3 -1.3 91.6 -5.0 2.5 -13.5 -6.8 -2.0 11.4 2.8 -1.5 -77.4 -5.0 0.6 163.2 1.1 -.5 -43.3 19 20 21 22 23 82.8 1.5 -8.9 18.0 6.1 38.7 -3.6 -2.2 27.8 6.9 207.0 0.3 2.9 -16.8 48.0 -2.4 1.2 -2.8 22.7 -53.0 20.1 -.3 3.1 2.1 0.7 38.9 0.1 0.3 16.2 -8.9 105.4 0.8 2.7 -2.9 -1 . 1 -39.4 2.6 -8.4 -31.1 -16.2 35.3 -3.4 2.1 14.6 8.9 -29.4 1.8 -1.0 -33.6 8.5 145.6 -.8 1.9 -9.3 3.7 -38.2 Net increase in liabilities 0.6 Checkable deposits -5.4 Small time and savings dep. 59.3 Large time deposits -12.0 Fed. funds 8 sec. RPs, net 24 25 26 -31.9 -11.2 -20.7 97.5 87.5 10.0 81.7 136.4 -54.7 -28.1 -9.7 -18.4 1.8 6.7 -4.9 54.3 54.2 0.1 67.8 100.3 -32.5 -9.4 -3.4 -6.1 -41.9 -31.0 -10.9 116.5 103.8 12.7 33.6 90.6 -57.0 -66.6 -83.1 16.5 Net interbank claims To foreign banks To domestic banks 24 25 26 27 28 29 30 31 -9.8 107.8 9.0 -22.5 121.3 -.5 -87.1 0.9 12.5 -100.5 -7.4 98.2 0.2 -1 . 1 99.1 -6.2 63.8 2.5 -20.4 81.7 -.9 13.7 3.5 -26.3 36.6 -1.2 -21.3 4.3 18.6 -44.7 -7.1 45.3 5.0 -.5 40.8 -5.4 28.4 2.4 -6.0 32.0 -6.8 61.8 3.5 -2.8 61.1 -.5 -121.1 2.9 -124.0 -3.1 119.6 3.0 3.2 -17.4 2.9 24.8 -45.0 Acceptance liabilities Miscellaneous liabilities Fgn. direct invest, in US Due to affiliates Other 27 28 29 30 31 X X X 116.6 32 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 1.6 1.9 33 65.9 10.7 44.9 4.0 6.5 -1.4 -14.3 -16.9 -6.5 59.0 -17.8 BILLIONS OF 3.3 Gross saving 2.1 Fixed nonres. investment Total loans Mortgages Bank loans n.e.c. Open market pacer Security credit Corporate equities Cust. liab. on acceptances Reserves at Fad. Reserve Miscellaneous assets 1.9 Discrepancy 19.2 Memo: Credit mkt. funds adv. (1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York Investment companies, and American Express Bank. DOLLARS. 1 2 3 4 5 6 7 a 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 32 33 DECEMBER 7, 1994 Commercial Banking Subsectors, Continued Commercial Banking Subsectors, Continued F.114-F.115 Commercial Banking Subsectors, Continued 25 ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 10.5 0.1 9.8 0.1 15.5 0.2 F.114 Bank Holding Companies 1 Gross saving 2 Fixed nonres. investment 10 11 12 13 7.2 0.3 7.5 0.2 8.7 0.2 6.7 0.2 6.0 0.2 8.6 0.2 9.8 0.2 10.7 0.1 1 2 20.0 21.5 30.7 32.8 31.1 31.8 18.1 23.7 -4.9 1.7 40.6 45.4 3 Credit market instruments U.S. government securities Treasury Agency Corporate bonds Bank loans n.e.c. -2.2 -.3 -.1 -.3 -.8 -1.0 1.5 0.5 0.1 0.4 1.3 -.3 0.9 0.3 0.1 0.2 0.6 0.1 3.7 1.3 0.3 1.0 3.1 -.7 -.3 -.5 -.1 -.4 -1.3 1.5 2.0 0.4 0.1 0.3 1.0 0.5 -.1 0.1 X X 0.1 -.3 2.8 0.4 0.1 0.3 0.8 1.6 -2.8 -.6 -.2 -.5 -1.9 -.2 -1.5 0.8 0.3 0.5 -.5 -1.9 5.6 4.9 5.1 -.2 0.3 0.4 w 0.1 -.8 0.9 1.7 -1.8 4 5 6 7 8 9 Miscellaneous assets Inv. in bank subsidiaries Inv. in nonbank subs. Other 22.2 16.2 5.6 0.5 20.0 15.5 4.1 0.4 29.8 18.9 9.5 1.4 29.1 15.6 13.6 -.1 31.5 16.7 8.4 6.3 29.9 19.8 8.3 1.3 18.2 21.3 -2.5 -.7 20.9 8.6 10.1 2.2 -2.2 5.4 -20.8 13.2 3.2 19.4 -14.6 -1.6 35.0 27.8 2.5 4.8 45.4 31.6 13.3 0.5 10 11 12 13 14.3 14.3 23.3 24.2 24.5 25.9 9.6 14.1 -15.5 -8.6 31.8 30.1 14 -.4 -.9 0.2 3 Net acq. of financial assets 4 5 6 7 8 9 5.8 0.3 14 Net increase in liabilities 15 Fed. funds 8 sec. RPs, net 16 17 18 19 20 21 Net interbank claims To domestic banks To foreign banks Credit market instruments Corporate bonds Commercial paper -3.7 -1.5 -2.2 7.1 5.7 1.4 22 23 24 Miscellaneous liabilities Equity, etc. Other 25 Discrepancy - - 0.4 15 - - - - - * -10.2 -7.1 -3.1 13.3 9.9 3.5 1.9 2.5 -.6 16.1 9.9 6.1 1.5 2.0 -.5 16.6 14.4 2.2 0.6 -.7 1.3 10.7 13.9 -3.3 5.2 1.8 3.5 14.3 12.8 1.5 -3.6 -5.4 1.7 5.2 5.4 -.2 3.0 1.2 1.8 6.2 1.9 4.4 11.4 11.0 0.4 -27.7 -9.0 -18.7 -5.3 0.8 -6.1 -2.5 3.3 -5.8 3.5 -2.5 6.0 2.3 6.1 -3.9 1.2 4.7 -3.5 8.8 3.6 5.2 10.9 9.3 1.5 11.2 10.1 1.1 5.3 6.1 -.7 6.1 5.7 0.3 13.3 -2.0 15.3 6.4 5.2 1.2 8.1 7.3 0.8 4.9 0.6 4.3 1.2 -1.5 2.7 0.1 5.2 -5.1 25.8 22.1 3.7 19.7 22 22.0 23 -2.3 24 -.2 -.2 -.1 -.1 -.1 -.1 X X X 0.1 X X 16 17 18 19 20 21 25 F.115 Banks in U.S.-Affiliated Areas 1 Gross saving 2 Fixed nonres. investment 0.1 0.1 0.1 0.1 0.1 8.1 0.1 0.2 0.1 0.2 0.1 0.1 0.1 0.2 0.1 0.2 0.1 0.2 0.1 0.2 0.1 0.2 0.2 0.2 1 2 3 Net acq. of financial assets 4 Checkable dep.and currency -.3 0.5 3.5 0.2 -.8 0.5 2.3 0.4 -1.2 -.1 -1.3 -.8 1.6 -.6 2.1 -.4 4.5 -.1 -3.2 -.8 2.6 -.5 1.7 -.3 3 4 2.4 0.1 0.1 -.2 -.2 X 2.7 1.6 0.2 0.2 -.1 X -.3 1.8 1.5 X 0.1 0.1 X 1.3 2.7 0.1 0.1 0.4 0. 1 0.1 2.1 0.9 0.5 0.5 0.1 0.1 0.1 0.2 0.1 X * X 0.1 0.1 -.1 0.8 0.6 0.2 0.4 0.1 -.9 0.2 0.4 0.4 1.6 0.7 0.4 0.4 X X 0.2 0.5 0.1 4.5 0.4 0.3 0.1 X X 0.2 0.7 3.3 -1.9 0.4 0.3 0.1 -.1 0.1 X 0.7 -3.0 3.7 2.6 1.5 1.1 « 0.2 1.0 -.2 0.2 2.4 1.7 1 .5 0.2 -.2 0.2 1.2 0.1 -.5 5 6 7 8 9 10 11 12 13 5 6 7 8 9 10 11 12 13 Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate bonds Home mortgages Commercial mortgages Bank loans n.e.c. 14 Miscellaneous assets -3.2 1.7 -2.8 -.8 -2.1 -.6 1.4 0.9 0.1 -.5 -.7 -.4 14 15 Net incr. in liabilities 16 Checkable deposits Small time and savings dep. 17 18 Large time deposits 19 Miscellaneous liabilities -.3 0.1 0.1 0.1 -.5 3.4 -.9 0.9 0.9 2.5 -.9 -.5 * X - .4 2.3 0.3 0.3 0.3 1.3 -1.3 0.4 0.5 0.5 -2.7 -1.3 * -.1 -.1 -1.1 1.5 0.3 0.3 0.3 0.7 2.0 0.5 0.5 0.5 0.5 4.4 -.7 2.1 2.1 1.0 -3.1 -.2 -1 . 0 -1 . 0 -.9 2.6 0.6 0.4 0.4 1.2 1.8 0.3 -.2 -.2 2.0 20 Discrepancy -.1 -.1 -.1 -.2 -.2 -.1 -.2 -.2 BILLIONS OF DOLLARS x x x 15 16 17 18 19 0.1 20 DECEMBER 7, 1994 Commercial Bankins Subsectors, Continued Commercial Banking Subsectors, Continued F.114-F.115 Commercial Banking Subsectors, Continued 26 SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES 1991 IV 1992 1 1 II I IV III 1 1 1993 II I III IV 1 1 I 1994 II III 20.9 Gross saving 0.3 Fixed nonres. F.114 Bank Holding Companies 1 2 7.8 0.1 7.9 0.1 8.1 0.1 8.4 0.1 11.7 0.1 11.9 0.2 13.1 0.2 16.4 0.2 20.6 0.2 18.7 0.3 20.5 0.3 3 7.4 21.7 46.1 62.7 32.1 35.3 61.8 25.5 58.9 19.0 6.6 4 5 6 7 8 9 1.1 0.6 -2.0 2.6 0.1 0.4 6.7 9.1 11.6 -2.5 -1.5 -.9 -1.9 -.9 -.2 -.7 0.6 -1.6 17.4 9.4 6.5 2.9 2.1 5.9 0.2 2.1 2.6 -.5 7.9 2.4 1.5 0.9 3.4 2.1 1.2 -.7 -1.1 0.4 3.8 -1.9 -4.8 1.3 -1.1 2.4 -.1 -6.0 3.1 3.1 2.0 1.0 0.7 -.8 0.2 -2.5 -4.0 1.5 0.7 1.9 -2.4 -2.7 -3.3 0.6 0.3 -2.0 -4.5 -2.7 -2.6 -.1 -.3 -1.6 10 11 12 13 6.4 26.6 -22.5 2.3 14.9 -16.9 -17.5 49.3 47.9 51.2 10.2 -13.4 45.3 33.0 14.6 -2.2 31.9 43.8 2.7 ■14.6 39.9 33.0 -19.8 26.7 53.9 30.6 36.3 -13.1 24.3 32.9 -7.4 -1.2 63.7 30.1 44.0 -10.4 16.0 16.5 -8.8 8.3 6.3 9.7 -24.5 21.1 46.9 15.4 7.5 24.0 14 -.2 13.9 38.2 54.6 20.6 23.6 48.9 9.3 38.5 0.5 -13.8 23.8 Net increase in liabilities 15 1.7 2.9 -3.4 0.9 0.4 1.8 0,1 1.9 -2.1 1.8 -1.6 0.2 16 17 Id 19 20 21 -16.2 -1.6 -14.6 7.0 8.7 -1.7 -24.0 -6.6 -17.5 10.9 12.0 -1.1 17.5 0.3 17.2 -9.2 -3.1 -6.1 9.1 0.1 9.0 6.6 8.2 -1.6 11.6 -3.7 15.3 0.8 7.4 -6.6 -21.5 1.9 -23.3 21.1 12.0 9.1 22.6 4.7 18.0 1.3 -2.0 3.4 -8.3 -.1 -8.2 0.5 3.2 -2.7 11.9 12.4 -.5 12.2 1.2 11.0 -1.7 0.9 -2.6 3.5 -.9 4.4 -13.4 5.3 -18.7 8.2 1.4 6.8 22 23 24 7.3 7.2 0.1 24.2 21.3 2.9 33.3 30.4 2.9 37.9 21.9 16.0 7.8 14.6 -6.8 22.2 25.9 -3.3 24.9 22.0 2.9 15.2 11.6 3.6 16.4 28.5 -12.1 -3.0 -9.8 6.8 -7.0 -2.7 -4.3 25 0.1 X -.1 -.1 -.1 Discrepancy X X 0.1 x X X X X investment 44.5 Net acq. of financial assets X 1 2 3 Credit market instruments U.S. government securities Treasury Agency Corporate bonds Bank loans n.e.c. 4 5 6 7 8 9 Miscellaneous assets Inv. in bank subsidiaries Inv. in nonbank subs. Other 10 11 12 13 14 Fed. funds & sec. RPs, net 15 11.7 -1.1 12.8 11.7 0.6 11.1 Net interbank claims To domestic banks To foreign banks Credit market instruments Corporate bonds Commercial paper 16 17 18 19 20 21 0.2 -21.9 22.1 Miscellaneous liabilities Equity, etc. Other 22 23 24 25 F.115 Banks in U.S. -Affiliated Areas 1 2 0.1 0.2 0.1 0.2 0.1 0.2 0.2 0.2 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 Gross saving 0.3 Fixed nonres. 3 4 -2.4 -.6 2.5 -.3 2.8 -.4 2.7 -.5 2.4 -.7 2.0 -.5 1.5 -.6 1.5 -.3 1.8 0.3 2.2 0.8 2.4 1.3 2.8 Net acq. of financial assets Checkable dep.and currency 1.9 5 6 7 8 9 10 11 12 13 -1.5 1.1 0.7 0.4 -.1 -.7 0.1 0.4 -2.2 2.9 2.0 1. 1 0.9 4.1 3.0 1.7 1.3 3.6 2.4 1.6 0.9 -.1 0.3 1.0 X X 3.0 2.1 1.6 0.5 -.2 0.4 1.4 -.2 -.3 2.4 2.0 1.8 0.2 -.4 0.1 1.4 -.7 2.2 1.6 1.6 0.1 -.3 0.2 1.2 0.1 -.7 2.1 1.1 1.0 0.2 -.1 0.3 0.6 0.4 -.3 2.1 0.5 0.3 0.2 0.2 0.6 0.1 0.7 0.2 4.3 2.9 1.6 1.3 0.5 1.1 -.4 0.3 X 1.9 0.1 -.1 0.2 0.3 0.7 -.3 1.0 0.3 1.9 -.5 -.8 0.2 0.6 0.9 -.9 1.3 0.6 14 -.4 -.1 -1.1 -1.0 -.5 -.6 -.2 -.4 -.5 -.7 -.9 -1.1 15 16 17 18 19 -2.4 0.1 -.8 -.8 -1.0 2.5 0.4 2.8 0.8 0.7 0.7 0.6 2.5 0.6 0.3 0.3 1.3 2.1 0.4 -.1 1.7 1.7 0.4 -.3 -.3 1.9 1.6 0.3 -.4 -.4 2.0 2.0 0.1 -.2 -.1 2.1 2.3 -.1 2.1 2.8 0.7 0.6 0.6 0.9 2.3 2.5 -.2 0.2 0.2 2.4 20 -.1 X X X X 0.1 0.1 0.1 0.1 X x X 0.1 0.6 x X BILLIONS OF DOLLARS X 0.1 1.2 -.4 0.2 x• X X X investment 3 4 Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate bonds Home mortgages Commercial mortgages Bank loans n.e.c. 5 6 7 8 9 10 11 12 13 Miscellaneous assets 14 2.8 Net incr. in liabilities -.4 Checkable deposits 0.4 Small time and savings dep. 0.4 Large time deposits 2.5 Miscellaneous liabilities - 1 2 Discrepancy 15 16 17 18 19 20 DECEMBER 7, 1994 Nonbank Finance Summary Nonbank Finance Summary F.116-F.117 Private Nonbank Financial Institutions 27 ANNUAL FLOWS ANNUAL FLOWS 1932 1933 1984 1985 1986 1987 1983 1989 1990 1991 1992 1993 F.116 Private Nonbank F inancial Institutions (1) 1 Gross saving 2 Fixed nonres. Investment 3 Multifamily resid. invest. 4 Net acq. of financial assets Checkable dep.and currency 5 Time and savings deposits 6 Money market fund shares 7 Fed. funds and security RPs 8 9 Foreign deposits 10 11 Mutual fund shares Corporate equities 12 13 14 15 16 17 IS 19 20 Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate and fgn. bonds Mortgages Consumer credit Other loans 21 22 23 24 Reserves at Federal Reserve Security credit Trade credit Miscellaneous assets 25 Net Increase in liabilities 26 Thrift deposits _ Money market fund shares 27 Security RPs 28 Insurance & pension reserves 29 Mutual fund shares 30 Corporate equity issues 31 -6.0 8.9 * -2.5 11.9 * -6.4 17.4 0.1 -9.6 18.6 0.1 -15.9 22.2 0.2 -13.2 23.8 0.2 1.6 23.1 0.1 -3.0 26.1 0.1 10.1 26.1 0.2 6.1 24.4 0.2 -8.5 28.6 0.4 0.2 32.1 0.6 1 2 3 341.3 5.1 27.4 0.6 10.5 4.9 378.2 -.2 1.6 -1.4 9.3 -1.8 530.9 1.6 3.9 6.0 18.0 -.7 665.1 9.4 25.8 9.5 8.5 -2.2 842.9 10.0 31.8 9.0 4.0 3.1 562.7 -2.1 22.0 1.1 5.5 -.6 475.0 3.7 25.0 9.3 8.3 8.1 646.2 2.8 43.1 12.8 20.1 -3.3 356.8 14.8 -33.7 31,5 6.8 0.7 629.7 -5.4 65.7 27.3 -2.8 -5.4 563.1 3.6 -.8 30.0 4.3 -1.2 908.6 13.4 -.2 28.6 -8.3 -10.4 4 5 6 7 8 9 4.9 28.1 1.2 44.3 4.2 -2.3 9.5 41.7 37.1 20.1 16.0 30.4 -5.2 -7.3 3.0 2.2 29.2 -5.5 31.8 85.1 61.1 45.8 205.8 142.1 74.5 67.6 18.6 36.4 -9.3 9.3 8.7 260.1 100.7 33.0 67.7 14.7 31.7 68.6 21.6 22.9 449.8 139.8 85.7 54.1 17.7 73.0 101.3 33.5 84.6 449.3 143.1 78.5 64.5 50.5 98.8 89.3 40.7 27.0 635.9 258.4 117.7 140.7 82.6 127.2 73.0 28.2 66.4 426.7 145.9 28.3 117.6 21.6 102.9 90.0 9.4 57.0 417.0 23.9 -27.1 51.0 26.2 157.2 122.4 10.1 77.3 453.8 136.9 122.7 14.2 30.3 120.1 53.8 20.0 92.8 255.6 132.8 64.7 68.1 46,1 66.7 -55,5 10.8 54.7 348.8 210.0 169.3 40.7 45.1 126.4 -18.8 3.7 -17.5 326.2 123.2 77.9 45,3 71.6 148.6 -32.9 10.1 5.6 497.7 164.0 49.1 114.9 90.8 193.3 -.2 17.9 31.9 12 13 14 15 16 17 18 19 20 0.3 2.8 2.1 49.4 1.0 8.4 2.7 53.2 0.9 -2.3 3.6 48.3 1.7 18.9 3.1 90.0 1.7 6.7 5.8 77.5 -.7 -16.3 5.4 75.3 0.4 1.7 8.5 5.5 -.8 -1.0 4.0 109.4 -l.l -3.7 3.2 59.1 -.5 16.3 4.0 54.8 0.1 -1.3 2.5 93.3 0.4 22.7 3.0 113.2 21 22 23 24 346.7 62.3 32.7 22.8 166.1 9.4 3.7 379.0 132.5 -40.4 -2.9 161.9 29.3 2.2 537.1 133.1 54.2 34.0 144.3 27.3 4.4 678.8 80.0 10.2 -4.8 263.4 88.7 14.4 853.6 74.8 48.3 28.9 285.5 160.9 16.6 560.4 64.6 24.0 -21.6 208.2 70.2 18.9 466.3 67.8 21.9 2.9 137.6 6.1 23.3 654.5 -13.8 90.1 39.9 328.8 37.2 7.5 368.6 -106.6 70.3 1.5 168.8 65.3 7.9 641.8 -92.3 41.2 2.8 360.4 151.5 14.1 606.9 -63.2 3.9 17.2 249.9 211.9 22.1 914.9 -54.8 15.8 24. 0 312.8 316.3 36.3 25 26 27 28 29 30 31 122.7 10 125.9 11 32 33 34 35 36 37 Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. Open market paper Fed. Home Loan Bank loans 9.3 8.5 0.1 2.5 -2.6 0.8 15.8 7.7 * 2.5 12.6 -7.0 58.8 22.9 0.4 5.7 14.2 15.7 90.8 37.6 0.1 -.2 39.1 14.2 141.9 76.1 0.3 12.3 33.3 19.8 101.4 65.1 0.3 -3.3 19.9 24.4 127.6 47.1 0.3 2.7 57.8 19.7 70.9 36.8 0.3 13.5 31.2 -11.0 63.9 51.1 0.6 4.7 32.6 -25.1 21.0 63.4 0.5 8.8 -11.9 -39.7 70.2 64.0 0.6 2.2 7.0 -3.5 110.6 111.1 3.6 -14.0 -3.7 13.6 32 33 34 35 36 37 38 39 40 41 42 43 Security credit Trade debt Taxes payable Proprietor net investment Inv. in bank pers. trusts Miscellaneous liabilities 3.1 0.5 0.3 2.4 -1.9 35.9 5.2 2.5 -.2 2.1 3.2 67.8 6.8 0.4 -.2 1.8 15.1 57.2 24.5 2.5 0.4 3.3 10.2 95.3 3.2 -.4 0.2 5.1 18.1 70.5 -11.1 -.8 -.3 -6.4 13.2 100.2 1.3 1.7 0.5 6.8 2.2 66.9 16.6 -.5 0.7 4.6 19.6 5’3.0 7.2 -1.9 -.2 -6.3 29.7 69.0 35.2 0.7 1.5 10.1 16.1 79.4 6.0 0.6 0.4 6.5 -7.1 88.5 39.3 2.7 1.4 7.3 1.6 101.0 38 39 40 41 42 43 -10.1 -13.6 -17.8 -14.7 -27.6 -39.6 -30.3 -20.9 -4.5 -6.5 6.3 44 Discrepancy -26.3 44 (1) Thrift Institutions, insurance companies and pension funds, and other finaneial institutions. F.117 Fundings Corporations (2) 1 Net acq. of financial assets Money market fund shares 2 Open market paper 3 4 Miscellaneous assets (3) Invest, in fgn. bkg. off. 5 6 Invest, in brokersSdealers 7 Net increase in liabilities 8 Credit market instruments 9 Corporate bonds 10 Open market paper 11 Miscellaneous liabilities Fgn. direct invest, in US 12 13 Securities loaned (net) 3.6 0.1 0.1 3.4 1.9 1.5 6.1 1.5 1.5 3.2 2.2 1.0 1.3 0,1 0.1 1.2 0.3 0.8 12.2 0.7 0.7 10.7 2.2 8.5 12.7 2.6 2.6 7.5 4.2 3.4 14.0 2.2 2.2 9.6 7.2 2.4 27.6 4.0 4.0 19.6 12.8 6.8 18.5 8. 0 8.0 2.5 2.6 -.2 35.7 16.1 16.1 3.6 -1.8 5.4 24.9 15.8 15.8 -6.6 -17.3 10.7 57.4 23.5 23.5 10.4 -8.8 19.2 55.7 18.1 18.1 19.5 2.3 17.2 1 2 3 4 5 6 3.6 3.4 3.4 0.2 0.2 6.1 3.2 0.3 2.9 2.9 2.9 1.3 1.2 0.7 0.4 0.2 0.2 12.2 10.7 2.1 8.6 1.5 1.5 12.7 12.0 1.4 10.6 0.7 -4.4 5.1 14.0 9.7 2.7 7.0 4.3 -.1 4.4 27.6 38.0 -1.1 39.1 -10.4 -18.5 8.0 18.5 12.5 -1.3 13.8 6.1 -10.0 16.1 35.7 15.4 2.9 12.5 20.4 -11.8 32.1 24.9 -6.5 6.9 -13.5 31.4 -.1 31.5 57.4 13.2 11.7 1.5 44.2 -2.8 47.1 55.7 2.9 13.6 -10.7 52.7 16.6 36.1 7 8 9 10 11 12 13 (2) Funding subsidiaries, nonbank financial holding companies, and custodial accounts for reinvested collateral of securities lending operations. (3) Due from affiliated companies. BILLIONS OF DOLLARS. DECEMBER 1, 1994 Monbank Finance Summary Monbank Finance Summary F.116-F.117 Private Nonbank Financial Institutions SEASONALLY ADJUSTED ANNUAL RATES 1991 I IV I 1992 I II 28 SEASONALLY ADJUSTED ANNUAL RATES IV III I 1 1993 I II III IV I I I 1994 II III -.3 Gross saving 35.9 Fixed nonres. investment 0.6 Multifamily resid. invest. F.116 Private Nonbank Financial Institutions (1) 1 2 3 1 2 3 4.4 23.4 0.2 7.0 25.8 0.2 -1.1 25.5 0.1 -30.3 27.0 0.2 -9.6 36.0 1.2 0.7 28.1 0.3 0.9 28.4 0.2 -2.5 35.5 1.0 1.6 36.4 1.0 -5.7 34.0 0.6 1.6 37.4 0.9 4 5 6 7 8 9 851.4 7.4 58.6 37.0 -20.3 -9.6 475.0 0.4 -8.5 48.1 29.5 -5.2 415.7 -.5 -13.7 -15.9 15.2 -14.5 926.2 -10.0 7.2 71.2 -39.5 18.9 435.4 24.5 11.9 16.5 11.8 -3.8 692.3 8.1 55.9 4.5 -14.9 -6.9 1005.1 1.7 -40.8 12.4 -16.1 1.5 1055.0 5.5 -10.0 44.4 19.8 -25.1 882.1 38.2 -6.0 53.1 -22.1 -10.9 360.2 30.6 -96.0 27.3 -1.6 5.6 341.1 -36.2 -52.2 48.4 5.3 -10.0 10 11 47.1 125.7 51.4 116.4 71.9 11.2 55.1 -1.4 66.2 57.0 103.0 52.2 147.2 131.5 126.3 126.8 114.3 193.2 27.5 174.8 54.9 91.8 44.6 131.6 Mutual fund shares Corporate equities 10 11 12 13 14 15 16 17 18 19 20 432.0 225.5 218.7 6.8 55.5 144.1 33.4 15.4 -41.9 191.2 -27.1 -71.0 43.8 54.6 122.8 -24.7 3.8 61.9 346.2 208.2 124.5 83.7 79.0 185.6 -81.7 -11.0 -33.9 587.3 236.7 177.5 59.2 68.3 158.4 38.5 12.5 72.9 180.0 75.1 80.4 -5.3 84.5 127.6 -63.6 35.0 -78.6 384.2 166.4 79.9 86.6 74.7 215.7 -60.3 -10.2 -2.1 611.4 235.5 98.7 136.9 109.3 172.4 67.8 -3.0 29.3 627.4 223.8 -39.4 263.2 95.1 273.2 35.2 22.6 -22.4 367.6 30.3 57.1 -26.8 84.2 111.9 -43.6 62.1 122.8 10.6 -179.1 -219.4 40.3 53.5 106.4 -63.0 19.9 73.0 116.5 -48.1 -36.8 -11.3 16.6 -11.3 -29.8 44.4 144.7 223.3 3.2 -58.9 62.1 17.2 38.6 22.3 47.6 94.5 Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate and fgn. bonds Mortgages Consumer credit Other loans 12 13 14 15 16 17 18 19 20 21 22 23 24 1.3 40.0 3.6 128.7 0.7 -15.4 2.7 63.6 -1.9 20.4 -.7 -2.2 0.5 -2.0 1.9 237.0 1.3 -10.3 6.0 74.6 -.9 23.4 1.6 81.9 1.4 -1 .5 3.0 153.4 31.5 -.8 109.2 0.9 37.2 8. 1 108.3 -.8 2.2 2.1 178.0 -.2 -3.0 -1.1 126.9 -1.0 -14.0 5.9 104.0 Reserves at Federal Reserve Security credit Trade credit Miscellaneous assets 21 22 23 24 25 26 27 28 29 30 31 862.6 -26.1 32.1 -2.5 408.2 192.7 15.2 493.7 -69.0 34.0 -27.2 185.6 198.3 26.0 446.0 -91.4 25.2 80.6 222.0 200.4 22.3 997.6 -66.8 -10.0 114.6 325.9 243.4 20.0 490.4 -25.4 -33.4 -99.1 266.1 205.4 20.0 686.1 -125.2 -46.8 103.4 347.6 268.9 32.7 1015.7 -45.7 61.8 7.6 340.6 358.0 37.1 1083.8 -27.0 0.6 8.6 377.2 348.9 38.1 873.8 -21.2 47.7 -23.6 185.9 291.5 37.5 373.2 -15.7 -10.9 -65.7 -22.3 114.0 38.3 370.5 -60.1 67.8 54.5 44.3 152.7 24.4 565.1 Net increase in liabilities Thrift deposits -49.2 Money market fund shares 50.3 74.8 Security RPs 193.1 Insurance 8 pension reserves Mutual fund shares 131.2 Corporate equity issues 16.8 32 33 34 35 36 37 87.5 79.6 0.9 23.4 5.0 -21.3 48.9 39.7 0.9 20.4 2.8 -14.3 66.2 73.6 0.1 -5.7 1.9 -3.8 114.9 65.5 0.4 18.0 22.4 8.6 50.8 77.0 0.9 -24.1 1.1 -4.1 -13.6 84.1 1.4 -34.6 -77.4 13.0 106.2 84.6 1.4 12.8 -9.9 17.4 144.6 140.1 6.2 -16.1 -.9 15.3 205.0 135.5 5.5 -18.0 73.4 8.7 150.8 149.9 0.2 -18.3 31.0 -12.0 29.1 57.7 0.6 -45.1 -.6 16.6 86.2 59.9 0.1 -17.6 26.2 17.5 Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. Open market paper Fed. Home Loan Bank loans 32 33 34 35 36 37 38 39 40 41 42 43 73.6 2.3 1.9 9.5 7.9 60.5 -46.3 -3.1 1.2 -.3 -.3 145.8 -24.1 1.7 -.3 7.4 -10.2 -53.7 84.4 0.5 0.2 6.4 -12.0 175.9 9.9 3.3 0.2 12.4 -6.0 86.2 21.4 2.8 2.0 13.9 -4.2 83.1 41.4 7.3 0.6 3.0 -7.2 104.8 45.1 2.0 2.7 15.1 0.1 127.9 49.3 -1.5 0.4 -2.8 17.6 88.1 27.5 8.7 0.9 -2.6 15.4 134.8 -14.3 -9.1 -2.8 -6.4 -15.5 105.8 -48.4 1.1 -.5 -2.1 6.7 105.2 Security credit Trade debt Taxes payable Proprietor net investment Inv. in bank pers. trusts Miscellaneous liabilities 38 39 40 41 42 43 44 -8.0 -.3 3.6 13.9 8.1 -33.8 -17.1 -10.2 -44.0 -27.3 -7.3 M 534.3 Net acq. of financial assets Checkable dep.and currency 0.4 Time and savings deposits 29.3 25.7 Money market fund shares • Fed. funds and security RPs -12.5 -3.0 Foreign deposits -6.0 Discrepancy 4 5 6 7 8 9 25 26 27 28 29 30 31 44 (1) Thrift institutions, insurance companies and pension funds, and other financial institutions. F.117 Funding Corporations (2) 1 2 3 4 5 6 48.2 25.8 25.8 -3.4 -22.5 19.1 91.5 30.1 30.1 31.3 12.5 18.7 -25.9 -17.3 -17.3 8.7 -1.1 9.9 145.1 69.9 69.9 5.4 -20.4 25.7 18.9 11.4 11.4 -4.0 -26.3 22.4 33.7 -3.8 -3.8 41.4 18.6 22.8 23.4 1.1 1.1 21.2 -.5 21.7 72.5 32.4 32.4 7.7 -6.0 13.7 93.0 42.6 42.6 7.8 -2.8 10.6 92.4 17.8 17.8 56.9 56.9 68.2 35.3 35.3 -2.3 X -2.3 82.8 Net acq. of financial assets 13.7 Money market fund shares Open market paper 18.7 Miscellaneous assets (3) 45.3 Invest, in fgn. bkg. off. 24.8 Invest, in brokers8deal9rs 20.5 1 2 3 4 5 6 7 8 9 10 11 12 13 48.2 13.9 9.7 4.2 34.3 -17.3 51.7 91.5 18.8 12.7 6.1 72.7 12.4 60.2 -25.9 16.3 2.2 14.1 -42.2 -7.6 -34.6 145.1 14.0 15.1 -1.2 131.2 -8.6 139.7 18.9 3.6 16.6 -13.1 15.3 -7.6 22.9 33.7 -31.4 30.7 -62.2 65.2 72.8 -7.7 23.4 -1.6 6.1 -7.6 25.0 22.7 2.2 72.5 7.9 13.3 -5.4 64.7 -.2 64.9 93.0 36.7 4.4 32.4 56.2 -29.0 35.2 92.4 47.4 47.7 -.3 45.0 9.4 35.5 68.2 -17.1 14.5 -31.6 35.3 14.8 70.5 82.8 Net increase in liabilities 47.0 Credit market instruments 26.7 Corporate bonds Open market paper 20.3 35.7 Miscellaneous liabilities -1.7 Fgn. direct invest, in US 37.4 Securities loaned (net) 7 8 9 10 11 12 13 (2) Funding subsidiaries, nonbank financial holding companies, and custodial accounts for reinvested collateral of securities lending operations. (3) Due from affiliated companies. BILLIONS OF DOLLARS. DECEMBER 7, 1994 Thrift Institutions Thrift Institutions F.118-F.120 Thrift Institutions 29 ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 F.118 Thrift Institutions (1) -9.7 1.6 -2.2 1.5 -1.6 1.5 3.5 1.7 4.2 1.8 3.3 1.7 3.3 1.7 -.7 1.7 15.5 1.6 15.6 1.4 20.2 1.5 14.0 1.5 1 2 72.1 3.0 14.6 4.8 -.5 24.1 36.1 -.3 5.3 -24.5 3.9 1.8 1.8 0.3 25.8 156.5 1.2 2.8 2.8 0.3 135.3 54.6 -.2 11.7 53.7 11.2 6.0 -1.7 1.0 13.2 184.1 -.8 -6.7 4.1 -.2 155.9 24.9 -.3 11.4 86.9 25.4 9.0 -1.4 0.9 30.9 118.9 1.5 7.2 -.5 -.1 89.8 -1.1 0.6 3.1 58.7 19.9 8.7 -.1 1.7 19.1 133.6 1.2 11.0 -2.2 2.1 109.8 53.4 -.3 8.2 26.1 9.7 10.5 2.3 1.7 10.0 137.0 -2.3 -8.1 -2.5 8.5 65.6 6.4 1.1 -1.3 -.7 12.6 123.7 1.0 -3.4 2.6 -.4 2.0 114.8 11.3 0.2 13.0 77.0 8.7 3.4 1.3 0.4 6.8 -82.1 -.2 -4.8 7.0 -.1 0.4 -90.0 -59.6 -.2 -13.0 -14.0 - .9 -1.8 -.5 -.8 6.4 -147.4 -.3 0.4 -.4 0.2 -2.5 -154.0 -19.5 0.4 -19.3 -91.1 -12.9 -12.7 1.2 -l.l 10.5 -165.1 2.6 4.7 -8.0 1.2 -1.1 -123.5 -30.8 -.6 -2.9 -70.6 -8.8 -10.6 0.8 -.5 -40.4 -67.1 0.6 -1.0 -.3 1.5 0.3 -61.3 21.9 -.4 7.3 -76.4 -3.4 -10.1 -.3 0.1 -7.2 -29.2 3.0 -2.0 -7.9 0.1 1.7 -2.0 8.6 0.1 9.1 -27.5 10.4 -1.6 -1.0 0.4 -22.6 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 Net increase in liabilities 20 Deposits Security RPs 21 Credit mkt. instruments 22 Taxes payable 23 24 Miscellaneous liabilities 77.8 62.3 -1.8 1.1 158.3 132.5 13.1 -6.6 135.5 133.1 16.9 20.1 X X X 16.2 19.3 15.5 116.4 80.0 -3.0 20.7 0.1 18.6 126.9 74.8 17.1 24.1 0.1 10.8 130.4 64.6 28.1 28.3 0.1 9.3 118.4 67.8 15.9 21.7 0.1 12.9 -72.8 -13.8 -46.2 -15.1 -.1 2.4 -136.9 -106.6 -15.3 -30.2 -.2 15.4 -160.4 -92.3 -22.9 -44.5 0.2 -.9 -70.4 -63.2 -1.0 -6.7 0.2 0.3 -38.5 -54.8 7.5 11.3 0.6 -3.1 19 20 21 22 23 24 25 Discrepancy -5.6 -2.0 -1.7 -.7 -4.2 -5.0 -3.7 6.9 24.4 18.9 15.5 1 Gross saving 2 Fixed nonres. investment 3 Net acq. of financial assets Checkable dep.and currency 4 Time deposits 5 Fed. funds and security RPs 6 Mutual fund shares 7 Corporate equities 8 Credit market instruments 9 U.S. government securities 10 Tax-exempt securities 11 Corporate and fgn. bonds 12 Mortgages 13 14 Consumer credit Other loans (to business) 15 16 Open market paper Reserves at Federal Reserve 17 18 Miscellaneous assets X 1.4 136.6 56.4 X 3.1 25 (I) Savings and loan associations, mutual savings banks, federal savings banks, and credit unions. F.119 Savings Institutions (2) 1 Gross saving 2 Fixed nonres. investment 3 Net acq. of financial assets Checkable dep. and curr. 4 Time deposits 5 Fed. funds 8 security RPs 6 Corporate equities 7 8 9 10 11 12 13 14 15 16 17 18 19 Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate and fgn. bonds Mortgages Consumer credit Other loans (to business) Open market paper Reserves at Federal Reserve Miscellaneous assets 20 Net increase in liabilities Deposits 21 22 Checkable Small time and savings 23 24 Large time 25 Security RPs 26 27 28 29 30 31 32 33 Credit market instruments Corporate bonds Bank loans n.e.c. Fed. Home Loan Bank loans Taxes payable Miscellaneous liabilities Investment by parent Other 34 Discrepancy -10.4 1.4 -2.9 1.2 -3.0 1.2 2.1 1.3 3.8 1.3 2.6 1.2 2.5 1.0 -1.6 0.9 14.6 0.9 14.5 0.8 17.5 0.8 10.6 0.3 1 2 61.3 2.8 7.2 4.0 -.5 140.7 0.8 1.2 1.7 0.3 168.5 -1.2 -5.5 3.8 -.2 94.0 0.8 2.3 -4.2 -.1 105.1 0.5 4.0 -4.8 2.1 121.1 -2.3 -8.5 -.9 1.4 109.1 0.8 2.5 2.0 -92.0 -.8 -2.1 3.9 0.4 -163.1 -.3 -.1 -2.5 -2.5 -188.3 2.0 -.3 -6.6 -1.1 -93.8 -.6 -1.3 -.6 0.3 -49.0 3.1 -.7 -3.9 1.7 3 4 5 6 7 21.8 34.9 3.4 31.6 -.3 5.3 -24.3 2.6 1.8 1.8 0.3 25.8 123.1 51.5 15.3 36.2 -.2 11.7 50.9 4.9 6.0 -1.7 1.0 12.5 140.6 24.6 7.8 16.8 -.3 11.4 84.7 12.7 9.0 -1.4 0.9 30.2 76.4 -4.7 -5.2 0.5 0.6 3.1 55.5 13.4 8.7 -.2 1.7 17.0 94.3 49.8 3.5 46.3 -.3 8.2 19.2 5.3 10.5 1.8 1.7 7.2 119.1 53.2 9.6 43.6 8.5 55.0 2.4 1.1 -1.0 -.7 12.9 97.3 9.7 -10.2 19.9 0.2 13.0 68.8 1.4 3.4 0.8 0.4 6.2 -97.2 -56.4 -8.1 -48.4 -.2 -13.0 -20.8 -4.2 -1.8 -.7 -.3 4.5 -164.6 -24.1 -.9 -23.2 0.4 -19.3 -96.0 -12.9 -12.7 -1 . 1 8.1 -136.3 -41.5 -.9 -40.6 -.6 -2.9 -73.7 -7.5 -10.6 0.5 -.5 -45.5 -79.0 7.0 9.0 -2.0 -.4 7.3 -77.4 -4.8 -10.1 -.7 0.1 -12.3 -23.4 -1.5 -5.7 4.2 0.1 9.1 -29.6 0.5 -1.6 -.3 0.4 -26.2 8 9 10 11 12 13 14 15 16 17 18 19 68.5 52.1 6.5 34.1 11.4 -1.8 143.4 117.6 9.2 73.1 35.3 13.1 172.0 120.2 6.4 64.9 48.9 16.9 93.6 57.1 9.9 41.4 5.8 -3.0 99.5 47.6 17.1 29.0 1.4 17.1 116.2 51.3 5.3 37.9 8.1 28.1 105.6 55.4 6.8 37.6 ll.O 15.9 -80.3 -22.4 -1.1 -6.2 -15.1 -46.2 -150.9 -120.4 -4.3 -73.7 -41.9 -15.3 -181.5 -112.8 17.3 -94.9 -35.3 -22.9 -92.1 -84.8 -1.4 -75.5 -7.9 -1.0 -51.8 -67.4 4.4 -68.1 -3.6 7.5 20 21 22 23 24 25 1.1 0.4 -.1 0.8 -6.6 0.1 0.3 -7.0 20.1 1.9 2.5 15.7 19.3 28.3 4.4 -.5 24.4 0.1 8.4 -.9 9.3 21.7 1.9 0.1 19.7 0.1 12.5 -15.1 -3.4 -.7 -11.0 -.1 3.0 19.2 14.9 1.2 13.7 24.1 4.9 -.6 19.8 0.1 10.6 0.2 10.5 12.6 3.0 -30.2 -5.6 0.5 -25.1 -.2 15.2 -.4 15.6 -44.5 -4.1 -.7 -39.7 0.2 -1.5 -1.0 -.5 -6.7 -3.2 17.1 -.6 17.8 20.7 4.6 1.9 14.2 0.1 18.7 0.7 18.0 11.1 -1.5 -.5 13.2 0.6 -3.7 0.4 -4.1 26 27 28 29 30 31 32 33 -4.6 -1.5 -.6 0.4 -3.1 -3.5 -2.0 8.7 26.0 20.5 18.4 X X X X X X X X X -3.6 0.2 0.2 -1.0 1.2 7.0 34 (2) Savings and loan associations, mutual savings banks, and federal savings banks. F.120 Credit Unions 0.7 0.3 0.7 0.3 1.4 0.3 1.3 0.4 0.4 0.5 0.7 0.6 0.8 0.7 0.9 0.7 0.9 0.7 1.2 0.7 2.8 0.7 3.4 0.7 1 2 3 Net acq. of financial assets Checkable dep. and currency 4 Time deposits 5 Fed. funds and security RPs 6 Mutual fund shares 7 Credit market instruments 8 9 U.S. government securities Treasury 10 Agency 11 Home mortgages 12 Consumer credit 13 14 Open market paper Miscellaneous assets 15 10.7 0.2 7.4 0.3 2.3 1.2 0.3 0.9 -.2 1.3 - 15.9 0.4 1.6 1.1 12.1 3.1 1.4 1.7 2.8 6.2 0.6 15.6 0.4 -1.2 0.3 15.3 0.4 0.8 -.4 2.2 12.7 0.1 0.8 24.9 0.7 5.0 3.7 13.4 3.6 2.4 1.1 3.2 6.6 0.1 2.1 28.5 0.7 7.1 2.5 15.5 3.6 1.8 1.8 6.9 4.4 0.6 2.8 15.8 0.4 -1.6 10.5 4.0 -.3 -.4 14.6 0.2 -3.5 0.1 -.4 17.5 1.6 3.3 -1.7 8.2 7.3 0.4 0.6 9.9 0.6 -2.7 3.1 -.1 7.1 -3.2 -2.3 -.9 6.8 3.3 0.3 1.9 15.7 0.4 2.1 0.2 10.6 4.6 -3.6 8.2 4.9 -.1 1.2 2.4 23.2 0.6 5.0 -1.4 1.2 12.8 10.7 5.5 5.2 3.1 -1.3 0.3 5.1 26.7 1.2 0.3 0.4 1.5 17.7 14.9 5.9 9.1 1.0 1.4 0.4 5.7 19.8 -.1 -1.3 -4.0 0.1 21.4 10.1 2.4 7.7 2.2 9.9 -.7 3.6 3 4 5 6 7 a 9 10 11 12 13 14 15 16 Net increase in liabilities Shares/deposits 17 Checkable 18 19 Small time and savings 20 Large time Fed. Home Loan Bank loans 21 22 Miscellaneous liabilities 9.3 10.2 1.8 8.2 0.2 -.9 14.9 14.9 2.3 12.6 - 13.5 12.9 1.5 11.3 0.1 0.6 22.8 22.9 3.1 19.4 0.3 -.1 27.4 27.2 0.4 26.1 0.7 0.2 14.2 13.3 1.7 11.4 0.3 0.9 12.8 12.4 0.8 11.3 0.4 0.4 3.0 8.6 1.3 4.2 3.1 -.6 14.0 13.8 1.5 14.4 -2.1 0.2 21.1 20.5 2.2 17.5 0.8 0.6 21.7 21.6 4.5 15.5 1.6 13.3 12.6 1.7 9.8 1 .1 0.2 0.5 16 17 18 19 20 21 22 23 Discrepancy -1.0 -.5 -1.1 -1.1 -1.2 -1.5 -1.6 -1.8 -1.6 -1.6 -2.9 1 Gross saving 2 Fixed nonres. investment BILLIONS OF DOLLARS. X X X 17.5 3.2 3.2 X « 0.1 -3.8 23 DECEMBER 7, 1994 Thrift Institutions Thrift Institutions F.118-F.120 Thrift Institutions 30 SEASONALLY ADJUSTED ANNUAL RATES 1991 1 IV J SEASONALLY ADJUSTED ANNUAL RATES 1992 ]t II III IV 1 1 1993 I II III ! IV I 1994 II III 14.3 Gross saving 1.7 Fixed nonres. Investment F.118 Thrift Institutions (1) 1 2 1 2 13.9 1.4 20.5 1.4 18.6 1.5 23.3 1.5 18.5 1.5 13.9 1.5 13.9 1.5 14.0 1.5 14.0 1.6 14.1 1.6 14.2 1.7 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 -80.6 5.3 4.1 -22.5 1.3 1.1 -56.7 0.8 -.2 6.9 -56.7 -2.1 -5.1 -.3 1.3 -14.4 -102.7 -1.5 -1.5 4.6 2.3 X -105.6 10.6 -.6 -3.4 -96.3 -6.5 -7.3 -2.2 0.7 -1.7 -92.6 -1.4 -5.6 -3.5 2.3 1.2 -75.3 31.3 0.1 -7.6 -82.0 -12.2 -6.1 1.3 -1.9 -8.5 -58.1 -5.5 -.8 -5.2 0.7 -.2 -41.6 -2.8 0.1 12.3 -50.5 2.9 -4.1 0.4 0.5 -5.8 -15.0 11.0 4.0 3.0 0.7 0.4 -22.6 48.7 -1.1 28.0 -76.8 2.1 -22.7 -.9 1.3 -12.8 -100.3 -8.6 -6.7 -12.5 1.0 2.0 -30.7 -1.4 0.2 6.7 -37.0 4.6 -4.6 0.3 -.9 -43.9 -12.9 -.6 -4.8 -6.4 1.2 2.5 15.2 16.0 -.2 6.5 -18.9 15.4 -.9 -2.7 1.4 -21.4 7.5 4.6 4.6 -3.8 -.8 4.5 21.0 5.2 -.1 18.9 -10.8 9.6 0.1 -1.9 X -22.7 -11.1 16.3 -1.0 -8.7 -.8 -2.2 -13.3 14.4 0.3 4.3 -43.3 12.2 -1.0 -.2 0.9 -2.3 X 6.6 -18.2 6.0 -16.4 -1.8 13.5 24.7 X 33,0 -45.5 4.9 -1.8 -1.8 -.8 11.2 -9.1 -17.4 -11.7 -5.6 X -2.4 42.1 9.6 0.3 -3.2 6.8 27.2 -.4 1.9 -.2 -13.9 2.1 Net acq. of financial assets -2.5 Checkable dep.and currency Time deposits 9.3 -3.0 Fed. funds and security RPs Mutual fund shares -.7 Corporate equities 44.7 Credit market instruments 24.7 U.S. government securities X Tax-exempt securities -15.6 Corporate and fgn. bonds Mortgages 13.7 Consumer credit 23.1 Other loans (to business) -.1 -1.2 Open market paper -1.0 Reserves at Federal Reserve -44.5 Miscellaneous assets 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 -77.0 -26.1 -22.7 -24.9 0.4 -3.7 -105.2 -69.0 -15.5 -19.1 0.7 -2.3 -95.8 -91.4 7.9 -8.8 -.5 -2.9 -59.9 -66.8 -3.1 6.4 X 3.6 -20.7 -25.4 6.7 -5.3 0.7 2.6 -111.0 -125.2 10.7 9.7 0.9 -7.1 -21.6 -45.7 5.1 12.9 0.3 5.8 -1.6 -27.0 7.8 13.8 0.8 2.9 -19.8 -21.2 6.6 8.9 0.2 -14.2 -8.0 -15.7 10.0 -5.5 0.6 2.6 -16.7 -60.1 22.6 5.9 -2.8 17.6 -8.3 Net increase in liabilities -49.2 Deposits 19.7 Security RPs 15.3 Credit mkt. instruments -1.0 Taxes payable 6.9 Miscellaneous liabilities 19 20 21 22 23 24 25 16.0 16.6 14.0 20.0 11.3 1.8 3.7 3.4 3.6 4.5 4.9 2.1 Discrepancy 25 (1) Savings and Ioan associations, mutual savings banks, federal savings banks, and credit unions. F.119 Savings Institutions (2) 1 2 12.6 0.8 18.4 0.8 16.0 0.8 20.3 0.8 15.2 0.8 10.6 0.8 10.6 0.8 10.6 0.8 10.6 0.9 10.6 0.9 10.7 0.9 3 4 5 6 7 -107.4 4.4 -.7 -23.5 1.1 -135.9 -4.0 -4.2 8.7 X -110.9 -2.1 -1.7 -5.0 1.2 -82.7 -7.4 0.4 -6.2 -.2 -45.6 11.3 0.5 -.1 0.4 -116.5 -7.0 -1.1 -.8 2.0 -31.9 -.9 -2.2 -7.5 2.5 -13.7 5.1 1.6 -2.0 4.5 -33.8 14.9 -.9 -5.2 -2.2 -26.9 6.5 -1.1 -2.2 -1.8 -24.7 -17.6 -3.3 -.9 -2.4 -12.5 Net acq. of financial assets -.8 Checkable dep. and curr. -2.4 Time deposits -4.7 Fed. funds 8 security RPs -.7 Corporate equities 8 9 10 11 12 13 14 15 16 17 18 19 -77.3 -17.5 3.9 -21.4 -.2 6.9 -57.2 -5.1 -5.1 0.9 1.3 -12.7 -124.0 -7.0 13.1 -20.2 -.6 -3.4 -92.1 -11.3 -7.3 -2.2 0.7 -13.2 -95.9 14.4 6.0 8.4 0.1 -7.6 -90.9 -4.8 -6.1 -1.1 -1.9 -5.4 -57.2 -17.3 0.1 -17.3 0.1 12.3 -45.8 -2.6 -4.1 0.1 0.5 -12.6 -38.8 37.9 16.9 21.0 -1.1 28.0 -80.8 -.5 -22.7 0.3 1.3 -20.2 -59.4 -16.1 -11.1 -5.0 0.2 6.7 -43.2 -2.3 -4.6 0.1 -.9 -49.4 -4.5 7.9 X 7.8 -.2 6.5 -18-9 2.4 -.9 -1.3 1.4 -20.8 6.7 X -3.8 3.8 -.1 18.9 -11.1 -.7 0.1 -.3 X -29.8 -36.4 2.2 -8.1 10.2 0.3 4.3 -45.3 2.6 -1.0 0.4 0.9 -4.9 -17.1 9.6 4.4 5.2 X 33.0 -55.2 -2.9 -1.8 0.2 -.8 -10.4 10.7 5.4 0.7 4.7 0.3 -3.2 4.6 4.0 -.4 0.2 -.2 -11.0 25.2 35.7 -5.5 41.2 X -15.6 6.8 -.8 -.1 -.9 -1.0 -28.0 20 21 22 23 24 25 -101.2 -49.8 65.1 -93.2 -21.8 -22.7 -135.8 -100.7 -1.8 -92.7 -6.1 -15.5 -108.3 -102.4 -25.1 -54.3 -23.0 7.9 -78.5 -86.0 X -91.6 5.6 -3.1 -45.9 -49.9 21.5 -63.2 -3.2 6.7 -120.2 -133.2 -17.1 -96.5 -19.6 10.7 -34.1 -57.2 16.9 -74.8 0.7 5.1 -16.0 -43.0 7.1 -47.2 -2.9 7.8 -36.9 -36.1 10.7 -54.1 7.4 6.6 -29.6 -36.8 -15.2 -17.8 -3.8 10.0 -26.8 -69.3 -4.8 -59.5 -4.9 22.6 -16.1 Net increase in liabilities -59.4 Deposits -3.1 Checkable -60.9 Small time 3nd savings 4.6 Large time 19.7 Security RPs 26 27 28 29 30 31 32 33 -24.9 -.8 -2.8 -21.3 0.4 -4.2 -1.0 -3.2 -19.1 -5.9 1.7 -14.8 0.7 -1.2 -1.0 -.2 -8.8 -2.3 -2.7 -3.8 -.5 -4.4 -1.0 -3.4 6.3 -2.6 0.6 8.4 X 4.3 -1.0 5.3 -5.4 -1.7 0.4 -4.1 0.7 2.0 -1.0 3.0 9.7 -1.9 -1.2 12.8 0.9 -8.3 -8.3 12.6 -2.6 -1.3 16.5 0.3 5.1 5.1 13.5 -.6 -1.0 15.1 0.8 4.9 0.8 4.2 8.8 -1.0 1.6 8.2 0.2 -16.4 1.0 -17.4 -5.6 -.4 7.0 -12.1 0.6 2.2 1.6 0.7 5.8 -1.3 -9.4 16.4 -2.8 16.9 2.0 14.9 34 18.1 17.7 17.8 23.7 14.2 6.1 7.6 7.6 6.6 7.0 7.6 10.7 Gross saving 0.9 Fixed nonres. investment 14.8 -1.1 -1.1 17.0 -1.0 9.9 2.4 7.5 Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate and fgn. bonds Mortgages Consumer credit Other loans (to business) Open market paper Reserves at Federal Reserve Miscellaneous assets Credit market instruments Corporate bonds Bank loans n.e.c. Fed. Home Loan Bank loans Taxes payable Miscellaneous liabilities Investment by parent Other 6.1 Discrepancy 1 2 3 5 6 7 8 9 10 11 12 13 14 15 16 17 13 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 (2) Savings and loan associations, mutual savings banks, and federal savings banks. F.120 Credit Unions 2 1.3 0.6 2.1 0.6 2.6 0.7 3.0 0.7 3.3 0.7 3.3 0.7 3.3 0.7 3.4 0.7 3.4 0.7 3.4 0.7 3.6 0.8 3 4 5 6 7 8 9 10 11 12 13 14 15 26.8 0.9 4.7 1.0 1.3 20.6 18.3 15.8 2.5 0.5 3.0 -1.2 -1.7 33.1 2.4 2.7 -4.1 2.3 18.3 17.6 9.3 8.3 -4.1 4.9 * 11.5 18.3 0.7 -3.8 1.5 2.3 20.7 16.9 8.1 8.8 8.8 -7.4 2.4 -3.1 24.6 1.9 -1.2 0.9 0.7 15.6 14.4 5.7 8.7 -4.7 5.6 0.3 6.8 30.6 -.3 3.5 3.1 0.7 16.1 10.7 0.4 10.4 4.0 2.6 -1.2 7.5 16.2 -1.6 -5.6 -11.7 1.0 28.6 14.7 5.1 9.6 6.3 7.0 0.8 5.5 19.0 0.3 -2.6 1.1 1.2 19.7 8.1 4.4 3.7 X 13.0 -1.4 -.6 21.2 -.5 3.0 -1.8 -.8 14.3 5.3 -2.0 7.3 0.4 10.3 -1.7 7.0 22.7 1.4 X -3.5 -.8 23.1 12.2 2.1 10.1 2.0 9.5 -.7 2.6 26.8 0.1 -17.2 8.2 -16.4 30.5 15.1 4.3 10.8 9.7 7.7 -2.0 21.6 15.6 0.2 -8.4 -4.7 X 31.4 4.2 1.7 2.5 2.2 23.2 1.7 -2.9 16 17 18 19 20 21 22 24.2 23.7 X 22.8 0.9 0.5 30.6 31.7 4.2 26.0 1.5 -1.1 12.5 11.0 4.2 5.4 1.5 1.5 18.6 19.2 4.6 12.8 1.7 X -.7 25.2 24.5 5.1 17.8 1.6 0.1 0.5 9.3 8.0 -.5 8.1 0.4 X 1.3 12.5 11.5 -.3 11.3 0.5 0.3 0.7 14.3 16.0 3.7 10.4 1.9 0.3 -2.0 17.1 14.8 3.8 9.3 1.7 0.1 2.1 21.6 21.2 1.2 19.7 0.3 0.1 0.3 10.1 9.2 1.2 7.7 0.3 0.2 0.7 7.8 Net increase in liabilities 10.3 Shares/deposits 0.2 Checkable 10.0 Small time and savings 0.1 Large time 0.5 Fed. Home Loan Bank loans -3. 0 Miscellaneous liabilities 16 17 18 19 20 21 22 23 -2.0 -1.1 -3.8 -3.7 -2.8 -4.3 -3.8 -4.2 -3.0 -2.5 -2.7 -4.0 Discrepancy 23 BILLIONS OF DOLLARS, 3.6 Gross saving 0.8 Fixed nonres. investment 14.6 Net acq. of financial assets -1.7 Checkable dep. and currency 11.7 Time deposits 1.6 Fed. funds and security RPs Mutual fund shares 19.5 Credit market instruments -11.0 U.S. government securities -9.8 Treasury Agency -1.2 6.9 Home mortgages 23.9 Consumer credit -.2 Open market paper -16.5 Miscellaneous assets 1 2 3 4 5 6 7 a 9 10 11 12 13 14 15 DECEMBER 7, 1994 Insurance Companies and Pension Funds Insurance Companies and Pension Funds F.121-F.124 Insurance Companies and Pension Funds 31 ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 F.121 Life Insurance Companies 1 Gross saving 2 Fixed nonres. investment 3 Net acq. of financial assets 4 Checkable dep. and currency 5 Money market fund shares 6 Mutual fund shares 7 Corporate equities 8 9 10 11 12 13 14 15 16 17 Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate and fgn. bonds Mortgages Open market paper Policy loans Miscellaneous assets 18 Net increase in liabilities Life insurance reserves 19 Pension fund reserves 20 Fed. Home Loan Bank loans 21 Taxes payable 22 23 Miscellaneous liabilities 24 Discrepancy 3.8 1.8 3.4 2.7 1.8 4.0 -.1 3.9 -5.7 4.3 -9.2 5.1 -.7 5.2 -2.1 5.8 -3.8 6.2 0.5 5.3 0.3 5.7 1.4 6.0 1 2 55.4 0.3 1.1 1.0 2.4 59.1 -.6 -1.9 -.4 3.4 66.7 0.7 2.2 0.5 0.3 90.6 0.5 2.1 1.1 4.8 104.7 0.7 0.9 10.2 -2.1 101.2 -.9 -3.1 -2.2 5.7 114.7 -.3 0.1 5.7 -3.4 115.1 0.5 -.8 -4.1 9.7 111.2 -.1 11.9 12.6 -5.7 119.9 0.5 6.9 8.5 9.5 102.6 -.6 5.3 18.7 2.7 153.8 0.3 6.4 34.8 7.9 3 4 5 6 7 42.4 12.7 8.4 4.3 1.9 16.2 4.2 3.1 4.3 8.1 52.5 19.3 12.1 7.2 0.9 16.7 9.0 5.3 1.1 6.1 54.1 23.6 12.6 11.0 -1.3 23.7 5.7 1.9 0.4 9.1 74.4 23.0 10.5 12.5 1.0 37.8 15.1 -2.3 -.1 7.7 86.9 17.9 7.3 10.6 2.0 40.8 22.0 4.5 -.3 8.0 91.7 5.1 -2.0 7.0 -1.0 66.9 18.5 2.7 -.4 9.9 104.0 10.2 1.5 8.7 -1.5 69.2 20.5 5.1 0.6 8.7 101.8 19.5 -5.6 25.1 -.1 53.6 21.4 4.4 3.2 8.3 94.4 26.4 6.2 20.2 3.3 55.8 13.6 -8.9 4.1 -2.0 83.2 61.7 18.6 43.1 -2.1 28.2 -2.6 -6.9 4.8 11.3 79.1 39.8 11.0 28.8 1.1 58.9 -18.6 -7.8 5.7 -2.7 105.1 51.0 21.2 29.8 3.4 65.5 -17.6 -2.8 5.7 -.8 8 9 10 11 12 13 14 15 16 17 53.7 7.0 39.7 x 7.0 55.8 7.8 38.8 -.1 9.2 66.3 5.0 46.7 -.2 14.8 88.3 10.4 63.4 - 105.1 17.2 82.5 - X 5.4 10.9 105.4 25.3 84.4 -.1 -4.2 118.3 25.6 81.1 0.5 11.1 115.5 27.7 75.2 X 118.9 24.9 85.0 0.1 8.8 117.2 28.4 77.8 - 14.4 93.9 25.7 62.7 0.2 5.3 152.7 35.7 102.0 0.2 0.1 14.7 18 19 20 21 22 23 0.3 -2.6 -2.6 -6.3 -9.6 -21.6 -1.8 -5.3 -15.7 -6.4 7.5 X X X 12.5 -5.6 24 F.,122 Other Insurance Companies I Gross saving 2 Fixed nonres. investment 3 Net acq. of financial assets 4 Checkable dep. and currency Security RPs 5 6 Corporate equities 7 8 9 10 11 12 13 14 15 Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate and fgn. bonds Commercial mortgages Trade credit Miscellaneous assets 16 Net increase in liabilities 17 Corporate equities Taxes payable 18 19 Miscellaneous liabilities 20 Discrepancy 1.0 0.7 -.6 1.0 -4.2 1.4 -6.4 1.4 -.8 1.7 2.5 2.1 3.7 2.1 2.4 2.3 -3.0 2.4 -4.2 2.0 -18.9 2.1 -8.3 2.1 1 2 14.5 4.0 2.7 15.7 -.4 9.6 2.1 15.3 0.5 4.2 -4.3 33.2 1.2 5.7 -2.0 49.4 1.3 0.1 -.3 48.4 -.1 0.9 2.7 45.6 -.1 3.3 3.6 42.6 0.6 -.1 7.9 26.5 0.5 3.2 -7.0 27.8 -1.1 -4.1 -1.2 15.6 0.2 5.6 -.4 36.7 -.4 -.9 0.8 3 4 5 6 5.0 2.2 0.6 1.5 3.0 -.5 0.3 2.1 0.7 1.7 5.5 3.3 2.2 -.3 -4.2 0.7 2.0 0.7 11.7 9.1 5.9 3.2 -1.9 4.1 0.4 2.8 0.5 26.1 13.8 5.5 8.2 3.5 8.2 0.7 2.2 -.1 42.7 13.9 13.8 0.1 13.7 14.1 1.0 4.9 0.7 39.5 8.5 8.4 0.1 22.8 7.5 0.6 3.6 1.8 29.2 9.2 9.0 0.2 9.3 10.1 0.6 6.8 2.7 29.7 14.4 11.0 3.4 0.7 13.6 0.9 2.8 1.6 26.5 14.0 8.0 6.0 2.2 9.9 0.4 2.0 1.4 32.6 35.2 25.0 10.1 -10.2 8.0 -.4 1.9 -.3 12.8 5.2 4.7 0.5 7.5 0.7 -.6 -.1 -2.6 33.3 17.6 15.8 1.8 11.8 5.3 -1.4 1.7 2.2 9 10 11 12 13 14 15 13.9 2.8 14.2 1.5 18.5 3.9 49.4 6.8 46.4 4.0 12.7 14.6 42.7 42.4 33.1 1.7 0.1 31.3 36.9 2.4 0.6 34.0 29.2 2.8 -.1 26.5 17.8 1.9 0.5 15.3 28.7 5.5 11.1 45.1 7.8 -.1 37.3 23.5 7.4 0.1 15.9 16 17 18 19 -.2 -3.1 -2.4 4.1 -2.5 -1.6 -10.9 -5.6 -2.7 -16.3 -7.9 X X X X X X X 23.2 7 a -23.7 20 F.123 Private Pension Funds (1) i Gross saving 2 Fixed nonres. investment 3 Net acq. of financial assets 4 Checkable dep. and currency 5 Small time and savings dep. 6 Large time deposits 7 Money market fund shares 8 Mutual fund shares 9 Corporate equities 10 11 12 13 14 15 16 17 18 Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate and fgn. bonds Mortgages Open market paper Miscellaneous assets 19 Discrepancy (1) 0.8 2.1 1.0 3.4 1.3 4.9 1.7 5.3 2.1 6.1 2.5 7.0 2.8 6.6 3.5 7.8 3.6 7.4 4.2 7.3 4.5 8.1 4.8 8.4 1 2 87.8 -1.2 5.3 7.6 -1.9 2.9 21.9 80.2 0.5 10.0 1.4 1.2 0.4 7.1 47.3 0.6 6.9 0.3 1.0 1.1 -4.8 136.2 0.7 18.7 3.3 2.1 2.0 10.6 114.1 0.3 15.4 4.0 1.9 2.3 3.6 60.0 0.7 14.9 2.4 1.8 16.5 -29.6 -28.4 -.5 16.2 8.5 2.0 1.7 -12.2 142.4 1.2 23.8 12.8 2.9 6.3 -12.5 -10.9 0.1 -9.3 -2.6 192.5 -1.1 39.7 13.3 1.0 8.6 7.0 75.0 -.1 9.0 0.4 1.5 15.2 -2.6 92.4 3.3 2.8 4.0 42.8 -18.1 3 4 5 6 7 8 9 48.6 40.3 22.6 17.7 0.6 11.9 5.1 -9.3 4.5 40.6 25.1 16.3 8.8 71.5 36.6 24.7 11.9 0.6 31.7 2.5 0.2 27.2 67.7 31.1 22.3 8.8 2.1 23.2 3.0 8.3 18.8 33.6 20.7 16.9 3.8 -2.5 11.8 -2.0 5.6 19.6 29.2 3.7 9.6 -1.0 13.8 4.2 2.5 -73.4 81.1 61.1 44.8 16.3 0.3 22.2 7.4 -9.9 26.3 17.2 10.6 12.0 -1.4 12.7 0.8 2.0 18.9 39.1 20.8 14.5 6.3 0.4 15.5 0.1 2.4 3.1 9.3 -1.3 -1.4 -8.0 85.7 41.0 33. 1 7.9 0.2 40.2 8.4 -4.1 37.7 37.3 20.7 17.5 3.2 0.1 16.4 3.0 -2.9 14.3 40.2 17.7 14.9 2.8 0.1 17.4 3.8 1.3 17.4 10 11 12 13 14 15 16 17 18 -1.3 -2.3 -3.6 -3.6 -4.0 -4.5 -3.8 -4.4 -3.7 -3.1 -3.6 -3.6 19 82.7 0.7 2.6 48.0 1 2 3 4 25.5 12.1 15.9 -3.8 0.2 14.8 -1.9 0.3 6.0 5 6 7 8 9 10 11 12 13 X X X 6.7 -14.4 X X Includes the Federal Employees’ Retirement System Thrift Savings Plan. F.124 State and Local Government Employee Retirement Funds 1 Net acq. of financial assets 2 Checkable dep. and currency Large time deposits 3 4 Corporate equities 5 6 7 8 9 10 11 12 13 Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate and fgn. bonds Mortgages Open market paper Miscellaneous assets BILLIONS OF DOLLARS 31.7 0.4 2.2 6.0 35.1 0.4 2.8 20.0 45.3 0.6 3.2 7.3 53.4 0.4 1.4 28.6 71.7 0.7 -3.4 24.0 59.8 1.8 -4.7 31.8 56.0 -.4 1.9 21.0 80.1 -1.2 1.9 2.9 70.0 1.5 -1.7 12.3 61.2 0.6 30.9 72.0 0.8 -1.8 16.7 21.7 19.4 9.3 10.1 -.7 1.8 1.3 1.4 9.1 17.0 12.0 4.9 -1.1 -9.6 0.9 2.0 2.8 35.8 23.1 19.0 4.1 -.5 9.6 0.6 3.0 -1.6 21.7 12.3 15.0 -2.7 -.4 4.8 0.1 5.0 1.4 43.8 30.0 19.9 10.0 -.4 7.5 0.3 6.5 6.6 30.0 25.5 17.9 7.6 0.1 -1.4 -.2 6.0 0.9 17.6 2.5 3.2 -.6 -.3 17.2 0.3 -2.2 16.0 46.1 16.0 1.0 15.0 -.3 31.6 -.3 -1.0 30.5 34.9 27.1 17.6 9.5 0.1 2.8 0.8 4.1 23.0 46.0 9.9 8.5 1.5 -.2 26.1 0.8 9.3 -16.3 34.4 3.8 4.5 -.7 0.2 27.8 -3.3 5.8 21.9 X DECEMBER 7, 1994 Insurance Companies and Pension Funds Insurance Companies and Pension Funds F.121-F.124 Insurance Companies and Pension Funds 90 SEASONALLY ADJUSTED ANNUAL RATES 1991 IV | | SEASONALLY ADJUSTED ANNUAL RATES 1992 ][ II 1993 III IV 1 II I IV III 1 1 I 1994 II III F.121 Life Insurance Companies 1 2 2.2 5.2 -.7 5.6 1.4 5.7 -.6 5.8 1.1 5.9 1.4 5.7 1.4 5.9 1.5 6.0 1.5 6.3 1.7 6.3 1.8 6.4 3 4 5 6 7 84.0 -.1 5.4 5.9 42.2 98.8 0.1 5.7 14.1 22.4 90.3 -.6 5.0 25.6 -8.5 103.0 -1.1 4.9 17.4 2.1 118.2 -.9 5.6 17.8 -5.2 161.8 1.8 6.0 29,9 7.0 160.9 0.4 6.3 45.8 -14.6 164.9 -.4 6.6 34.9 18.2 127.5 -.5 6.8 28.8 20.9 116.3 0.7 7.1 5.5 27.1 47.1 -.6 11.6 11.9 26.9 8 9 10 11 12 13 14 15 16 17 26.6 86.9 25.6 61.3 -6.7 -5.1 -19.3 -27.9 -1.2 3.9 65.8 34.6 4.7 29.9 -.4 46.8 -7.8 -9.6 2.2 -9.3 69.6 34.2 13.3 20.8 0.6 57.2 -16.2 -10.5 4.3 -.6 80.4 46.7 11.1 35.6 1.8 58.9 -21.5 -11.2 5.8 -.8 100.8 44.0 15.0 29.0 2.5 72.6 -28.7 -.1 10.5 0.1 113.0 48.5 23.2 25.3 0.5 77.1 -9.3 -7.2 3.3 4.1 109.4 67.3 27.8 39.5 4.2 44.3 -8.6 -1.7 3.9 13.6 111.8 53.9 23.3 30.6 5.4 76.2 -18.5 -12.6 7.4 -6.2 86.4 34.3 10.5 23.8 3.3 64.6 -34.3 10.4 8.1 -14.9 53.7 13.9 -6.7 20.6 3.2 59.6 -20.2 -7.2 4.5 22.1 6.1 12.8 23.0 -10.2 -2.6 17.6 -12.9 -17.0 8.2 -8.9 18 19 20 21 22 23 81,0 19.3 71.6 0.4 -10.3 112.4 29.9 61.1 X 0.2 21.2 103.3 16.0 78.0 X 9.3 118.5 38.0 72.0 0.2 X 8.4 127.8 26.9 89.8 -.2 X 11.2 142.9 39.1 89.8 0.1 0.1 13.8 169.8 35,8 119.5 0.6 0.1 13.9 184.9 47.1 117.6 -.1 0.1 20.3 113.2 20.9 81.2 0.4 0.1 10.6 109.0 20.3 76.3 X 0.1 12.3 69.0 8.5 53.8 X 0.1 6.6 24 -6.0 7.4 8.6 9.1 4.3 -23.2 4.4 15.5 -19.1 -11.8 17.2 l.S Gross saving 6.7 Fixed nonres. investment 96.4 Net acq. of financial assets Checkable dep. and currency -.1 4.9 Money market fund shares 15.1 Mutual fund shares 20.9 Corporate equities 33.3 14.7 7.6 7.1 -1.3 32.0 -21.3 -.3 9.4 22.3 Credit market Instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate and fgn. bonds Mortgages Open market paper Policy loans Miscellaneous assets 107.1 Net increase in liabilities 24.1 Life insurance reserves 70.5 Pension fund reserves X Fed. Home Loan 3ank loans 0.1 Taxes payaole 12.3 Miscellaneous liabilities 5.8 Discrepancy 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 F.122 iOther Insurance Companies 1 2 -4.0 2. 0 -4.0 2.1 -10.1 2.1 -44.1 2.1 -17.3 2.2 -7.4 2.1 -7.3 2.1 -11.3 2.2 -7.2 2.2 -14.4 2.2 -8.6 2.2 3 4 5 6 23.7 -.8 -1.5 -.6 28.2 -.1 3.0 -.7 24.2 0.4 7.4 -.6 -8.0 0.5 7.8 -.3 18.0 0.1 4.2 - 32.3 -.2 0.9 0.4 38.1 -.5 -1.9 0.9 39.2 -.5 -2.3 1.0 37.1 -.3 -.2 0.8 37.4 -.2 1.6 5.3 30.5 X 2.9 4.9 25.6 Net acq. of financial assets X Checkable dep. and currency 3.3 Security RPs 4.8 Corporate equities 7 8 9 10 11 12 13 14 15 26.4 27.1 19.7 7.4 -5.4 5.2 -.5 1.3 -1.1 23.7 19.8 16.4 3.4 1.7 2.7 -.5 0.4 1.9 15.8 9,0 9.4 -.4 7.9 -.6 -.5 -.5 1.7 -.2 -9.2 -7.8 -1.4 10.6 -1.0 -.6 -.5 -15.4 11.9 1.2 0.9 0.3 10.0 1.6 -.9 0.3 1.4 27.3 14.0 12.6 1.5 10.5 4.0 -1.2 l.l 2.6 36.0 19.3 17.2 2.0 12.1 6.2 -1.6 1.9 1.8 37.6 20.2 18.1 2.1 12.6 6.3 -1.6 2.0 1.4 32.1 16.9 15.2 1.7 11.9 4.5 -1.3 1.6 3.1 27.9 14.3 12.9 1.4 11.5 3.1 -1.0 1.3 1.5 20.8 12.4 11.3 1.2 7.1 2.0 -.7 1.1 0.9 16.0 12.0 10.9 1.1 3.3 1.4 -.6 1.0 0.4 16 17 18 19 18.6 3.0 0.4 15.3 24.6 4.2 0.2 20.2 30.7 5.3 25.4 30.8 6.0 X 24.9 28.7 6.3 w 22.4 24.5 7.1 0.1 17.3 22.8 8.4 0,1 14.3 21.4 8.1 0.1 13.2 25.2 6.2 0.1 19.0 25.7 4.4 0.1 21.2 24.4 2.7 0.1 21.6 23.9 Net increase in liabilities 2.2 Corporate equities 0.1 Taxes payable 21.6 Miscellaneous liabilities 20 -11.1 -9.7 -5.8 -7.5 -8.7 -17.3 -24.8 -31.2 -21.3 -28.3 -16.9 -10.7 Gross saving 2.3 Fixed nonres. investment Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate and fgn. bonds Commercial mortgages Trade credit Miscellaneous assets -14.7 Discrepancy 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 F.123 Private Pensioni Funds (1) I 2 4.3 7.1 4.5 7.8 4.5 8.1 3.9 8.1 5.0 8.2 4.8 8.0 4.8 8.3 4.9 8.4 4.9 8.8 4.8 8.6 5.2 8.8 3 4 5 6 7 8 9 272.0 1.0 47.2 16.8 3.5 22.2 0.9 2.1 0.2 -1.2 -1.0 11.4 14.3 19.9 73.9 X 10.3 -1.6 -2.9 21.1 -27.9 122.3 -1.4 4.2 -.2 -2.5 10.1 -3.5 101.7 0.8 22.8 4.2 -.1 15.2 1.3 190.6 1.5 30.8 11.6 2.4 33.9 -30.1 81.4 -.2 -7.1 0.5 4.8 56.2 8.5 137.3 -.8 4.7 0.7 5.2 44.4 -35.0 -39.8 -.7 -15.3 -1.5 3.6 36.7 -15.8 -194.1 -2.1 -46.9 -10.6 2.4 15.7 -30.5 -108.3 -1.8 -33.2 -7.9 1.5 20.3 -42.7 10 11 12 13 14 15 16 17 18 135.2 62.9 65.6 -2.8 0.2 55.8 10.0 6.3 45.3 -33.2 -18.8 -25.4 6.6 -.1 -13.5 -1.7 0,9 -8.2 74.1 45.2 36.2 9.0 0.2 34.5 -.4 -5.4 0.8 99.9 56.3 44.2 12.2 0.3 46.2 3.5 -6.4 15.6 8.4 0.2 15.1 -14.9 -.1 -1.5 10.4 -.7 49.0 118.0 59.5 29.9 29.5 0.2 43.9 4.2 10.1 22.6 11.1 -2.4 2.4 -4.8 X 10.8 1.9 0.9 7.6 91.9 46.8 33.3 13.5 0.3 44.0 6.1 -5.4 26.3 -60.1 -33.3 -6.0 -27.3 -.1 -29.3 3.1 -.5 13.2 -97.7 -46.2 -36.8 -9.4 -.1 -38.9 -5.3 -7.2 -24.5 -30.7 -17.3 -7.0 -10.3 -.1 -5.3 -1.8 -6.3 -8.7 19 -2.9 -3.3 -3.5 -4.2 -3.2 -3,3 -3.5 -3.6 -4.0 -3.8 -3.7 (1) 5.3 Gross saving 9.2 Fixed nonres. investment 6.7 Net acq. of financial assets -.5 Checkable dep. and currency -.2 Small time and savings dep. 2.2 Large time deposits 2.0 Money market fund shares 19.5 Mutual fund shares -29.7 Corporate equities -13.4 -14.1 -4.8 -9.3 -.1 -6.9 6.5 1.2 26.7 Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate and fgn. bonds Mortgages Open market paper Miscellaneous assets -3.9 Discrepancy 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 Includes the Federal Employees* Retirement System Thrift Savings Plan. F.124 State and Local Government Employee Retirement Funds 1 2 3 4 45.2 4.1 -3.9 41.9 92.6 0.3 -1.4 42.3 54.1 2.4 -1 . 1 23.6 93.6 -3.9 -2.3 -13.0 47.7 3.9 -2.5 13.7 28.1 -2.3 1.5 22.5 103.9 1.0 3.0 41.9 75.1 -.9 11.8 38.6 123.6 4.8 -6.1 88.8 75.1 0.2 0.3 26.2 90.3 0.4 0.5 33.9 91.8 Net acq. of financial assets 0.4 Checkable dep. and currency 0.5 Large time deposits 19.2 Corporate equities 5 6 7 11.8 -30.6 -2.3 -28.3 -1 . 0 41.2 0.8 1.4 -8. 7 40.2 14.0 -6.7 20.6 -.1 27.0 -2.9 2.2 10.7 33.9 -3.5 16.0 -19.5 X 29.5 -1.0 8.9 -4.7 46.8 18.0 2.2 15.8 0.8 26.8 -5.2 6.4 65.9 16.7 -13.1 6.4 -19.6 0.2 27.8 -4.0 5.8 15.9 -9.8 -11.3 15.3 -26.6 0.3 -.8 -3.2 5.3 16.1 47.5 17.6 24.0 -6.4 0.7 26.8 -4.6 6.9 10.6 27.4 33.1 29.9 3.2 -.5 6.7 2.2 -14.1 -1.7 36.9 9.2 -5.4 14.6 0.4 26.3 -2.1 3.1 -.9 45.3 22.7 14.8 7.9 X 21.8 0.4 0.4 3.0 51.2 28.6 18.7 9.8 X 20.6 1.2 0.8 4.4 41.1 19.1 14.2 4.9 X 21.2 -.1 0.8 30.7 a 9 10 11 12 13 BILLIONS OF DOLLARS. Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate and fgn. bonds Mortgages □pen market paper Miscellaneous assets 1 2 3 4 5 6 7 8 9 10 11 12 13 DECEMBER 7, 1994 Othar Finance Other Finance F.125-F.129 Other Financial Institutions 33 ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1986 1985 1987 1988 1989 1990 1991 1992 1993 F.125 Finance Companies (1) 1 Gross saving 2 Fixed nonres. investment 3 Net acq. of financial assets 4 Checkable dep. and currency Credit market instruments 5 Mortgages 6 Consumer credit 7 Other loans (to business) 8 Miscellaneous assets 9 10 Net increase in liabilities Credit market instruments 11 Corporate bonds 12 Bank leans n.e.c. 13 14 Open market paper 15 16 17 18 19 Taxes payable Miscellaneous liabilities Fgn. dir. invest, in U.S. Investment by parent Other 20 Discrepancy (1) -.1 1.4 1.1 2.4 0.5 3.8 0.1 4.2 0.3 5.2 4.4 5.2 5.2 5.6 6.8 6.6 6.7 6.2 5.5 5.9 3.5 6.8 5.0 7.7 1 2 11.8 0.1 8.2 1.9 5.4 0.9 3.5 27.7 0.1 25.3 1.8 10.4 13.1 2.3 35.7 0.2 35.7 3.3 8.0 24.4 -.1 59.2 0.3 46.4 4.8 20.7 20.9 12.5 56.0 0.4 42.6 5.6 18.6 18.4 13.0 62.7 0.6 47.6 8.0 3.0 36.6 14.6 50.6 0.8 38.1 5.1 1.4 31.6 11.7 36.6 1.0 32.0 6.5 -.7 26.3 3.6 39.7 1.1 29.0 11.7 -6.0 23.3 9.6 23.0 1.2 -12.7 0.3 -12.4 -.6 34.5 3.3 1.3 1.7 2.7 -4.6 3.6 0.3 19.4 0.4 -9.0 -.5 -1.8 -6.7 28.0 3 4 5 6 7 8 9 10.1 3.3 8.1 1.0 -5.8 25.3 14.9 4.0 1.8 9.1 33.1 23.9 9.6 1.7 12.6 55.0 40.7 14.7 -3.6 29.6 52.5 51.5 26.3 3.7 21.6 56.7 23.2 9.6 2.9 10.7 39.0 23.9 5.9 1.0 17.1 25.4 27.4 15.6 3.1 8.7 31.2 24.0 15.5 4.0 4.6 22.0 18.6 13.0 11.3 -5.8 0.3 -3.6 4.0 -4.6 -3.1 15.1 0.2 9.7 -12.3 2.7 10 11 12 13 14 15 16 17 18 19 X » X X X 6.8 0.2 6.7 -.1 10.4 -.3 4.9 5.8 9.2 1.9 8.8 -1.5 14.3 -.5 15.6 -.7 0.9 2.1 7.5 -8.7 0.1 33.4 -.2 -10.0 43.6 0.1 15.0 -.5 -13.2 28.8 0.1 -2.2 7.2 -1.5 -7.8 0.2 7.0 -3.5 2.2 8.3 0.2 3.2 4.4 -3.0 1.9 0.1 3.8 1.8 3.4 -1.4 0.1 14.8 7.6 3.3 3.9 -3.3 -3.7 -5.9 -8.3 -8.5 -6.3 -12.0 -11.0 -8.0 -1.4 -6.4 -6.9 20 11.2 11.3 -.1 - 0.1 -.4 0.3 0.3 -.5 0.1 0.3 11.2 -2.4 13.6 0.1 8.0 -7.9 -1.0 1.0 Includes retail captive finance companies. F.126 Mortgage Companies 11.8 11.0 0.7 0.2 -12.7 -11.8 -.9 0.1 5.2 5.0 0.3 0.7 3.2 2.8 0.2 0.1 20.1 20.2 -.2 0.1 2.1 1.5 0.6 3.2 1.2 • 2.0 11.8 9.0 2.8 -12.7 -11.2 -1.5 5.2 20.1 10.1 10.1 1 Net acq. of financial assets 2 Home mortgages 3 Multifamily mortgages 4 Commercial mortgages 2.2 2.2 0.1 -.1 0.9 0.9 -.4 0.4 2.1 1.4 5 Net increase in liabilities 6 Bank loans n.e.c. Investment by parent 7 2.2 1.6 0.6 0.9 0.6 0.2 X X X 5.1 X -.9 1.0 X X X ■ X X 1 2 3 4 5 6 7 F.127 Mutual Funds (2) 1 Gross saving -.9 -5.3 -3.1 -7.9 -15.0 -17.1 -9.9 -10.9 -9.3 -12.9 -17.2 -18.0 1 2 Net acq. of financial assets 3 Checkable dep. and currency 8.5 0.3 24.0 0.6 24.2 0.4 80.8 1.7 145.9 2.6 53.2 0.5 -3.8 0.3 26.3 1.3 56.0 0.2 138.5 3.6 194.7 3.8 298.8 6.0 2 3 3.5 4.7 2.3 2.3 2.9 0.2 -.6 13.7 9.8 0.6 0.6 5.5 2.7 1.0 5.9 17.9 6.4 5.8 0.5 5.6 3.6 2.4 10.3 68.7 52.9 41.4 11.5 14.5 3.6 -2.3 20.2 123.1 59.3 36.4 22.9 31.8 26.3 5.3 26.9 25.3 9.9 9.9 5.4 7.3 3.2 -16.0 11.9 -19.2 -17.7 -1.5 8.0 14.2 8.9 1.2 23.8 5.1 5.3 -.2 14.9 5.7 -1.9 14.4 41.4 7.4 4.1 3.2 15.6 13.6 4.9 44.6 90.3 53.9 42.1 11.8 28.0 12.8 -4.4 67.2 123.7 60.4 39.2 21.2 36.3 19.8 7.3 128.8 4 164.0 5 41.8 6 25.9 7 15.9 8 9 44.6 56.1 10 21.4 11 12 Net share issues 9.4 29.3 27.3 88.7 160.9 70.2 6.1 37.2 65.3 151.5 211.9 316.8 12 13 Memo: Capital gains dividends 2.4 4.4 6.0 4.9 17.5 22.4 6.3 15.0 8.1 14.1 22.2 36.3 13 4 5 6 7 8 9 10 11 Corporate equities Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate S foreign bonds Open market paper X (2) Open-end investment companies; does not include College Retire ment Equities Fund (CREF), which is included in the private pension funds sector (F.123). F.128 Closed-End ^unds 1 Net acq. of financial assets 2 3 4 5 6 Corporate equities Credit market instruments U.S. government securities Tax-exempt securities Corporate 8 foreign bonds 7 Net share issues -.2 -.8 -1.0 1.0 5.8 7.3 20.6 6.3 0.4 16.3 16.9 14.3 1 -.7 0.5 -.6 -.2 -.2 -.4 1.4 0.1 1.0 0.3 2.9 2.9 0.4 1.1 1.4 3.3 4.0 0.6 1.3 2.1 2.8 17.9 3.2 4.2 10.4 -.3 6.6 1.8 4.6 0.1 0.2 0.2 0.4 -.5 -.5 -.1 -.4 1.8 -1.6 1.6 14.7 3.1 13.0 -1.4 -.5 17.4 2.0 13.8 1.6 4.1 10.2 2.8 3.4 4.0 2 3 4 5 6 -.2 -.8 -1.0 1.0 5.8 7.3 20.6 6.3 0.4 16.3 16.9 14.3 7 15.3 1.5 -5.8 0.4 -10.4 1 2 3 4 5 X X X F. 129 Money Market Mutual Funds 1 Net acq. of financial assets Checkable dep. and currency 2 Time deposits 3 4 Security RPs Foreign deposits 5 6 7 8 9 10 11 12 Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Open market paper Miscellaneous 13 Net share issues BILLIONS OF DOLLARS. 32.7 0.8 -3.1 1.7 4.9 -40.4 -.6 -16.8 -3.2 -1.8 54.2 -1.0 -.4 9.7 -.7 10.2 1.4 -6.8 3.3 -2.2 48.3 -.2 2.3 6.1 3.1 24.0 -.3 14.4 7.1 -.6 21.9 1.0 -.8 2.4 8.1 90.1 -.6 8.5 13.2 -3.3 70.3 11.3 -20.2 4.1 0.7 41.2 -11.6 12.0 9.3 -5.4 3.9 -2.5 -2.1 -1.1 -1.2 29.5 22.7 21.1 1.6 8.0 -1.3 -1.1 -17.7 -18.4 -19.8 1.4 3.6 -3.0 -.4 45.0 6.2 2.6 3.6 7.0 31.8 1.5 13.9 0.3 -.8 1.1 12.4 1.2 0.6 34.1 0.5 3.4 -3.0 27.5 6.2 2.9 1.8 -1.9 -13.7 11.9 -2.3 6.0 1.4 10.7 -11.4 -2.7 -8.6 4.2 17.8 0.5 67.1 5.9 3.2 2.7 3.7 57.5 5.2 80.9 46.5 30.7 15.9 14.3 20.1 -6.4 30.1 38.6 34.2 4.4 6.2 -14.7 6.9 1.3 13.7 0.1 13.5 5.0 -17.3 9.5 12.9 6 7 13.9 0.8 8 13.2 9 8.6 10 -9.6 11 17.2 12 32.7 -40.4 54.2 10.2 48.3 24.0 21.9 90.1 70.3 41.2 3.9 15.8 13 DECEMBER 7, 1994 Other Finance Other Finance F.125-F.129 Other Financial Institutions q/. SEASONALLY ADJUSTED ANNUAL RATES 1991 IV I 1 SEASONALLY ADJUSTED ANNUAL RATES 1992 3C II III 1 I IV 1993 I II III IV 1 1 1994 II I III F.125 Finance Companies (1) 5.1 Gross saving 9.2 Fixed nonres. investment 1 2 3.5 5.8 1.9 6.6 1.7 6.8 5.6 6.9 4.8 7.0 5.0 7.3 5.0 7.6 5.1 7.7 5.1 8.0 4.5 8.6 5.2 8.9 3 4 5 6 7 8 9 11.3 1.3 -26.0 -1.9 -7.3 -16.9 36.1 0.3 1.3 1.0 2.6 -4.5 2.9 -2.0 -18.6 1.3 -13.9 1.4 -13.4 -2.0 -6.0 7.1 1.3 -2.7 8.1 -6.9 -3.9 8.5 24.4 1.4 22.3 -1.5 6.3 17.5 0.8 12.4 0.4 -33.3 1.0 -12.7 -21.7 45.3 -7.7 0.4 -34.7 -4.6 -15.3 -14.8 26.6 37.0 0.4 9.4 -1.1 -4.5 14.9 27.2 35.8 0.4 22.6 2.5 25.1 -5.0 12.8 86.0 0.4 72.1 1.6 25.3 45.1 13.5 93.1 0.4 49.8 6.5 10.0 33.3 42.9 42.5 Net acq. of financial assets Checkable dep. and currency 0.4 59.0 Credit market instruments 11.3 Mortgages 18.5 Consumer credit Otner loans (to business) 29.2 -16.9 Miscellaneous assets 10 11 12 13 14 7.2 20.5 25.0 2.6 -7.0 -4.4 -27.3 -5.8 -10.6 -11.0 -23.3 -3.5 8.3 -.2 -11.6 3.3 15.2 -1.8 1.7 15.3 25.5 1.0 15.4 -9.4 -5.1 14.8 -19.6 4.1 -7.6 -16.1 -14.4 -13.6 10.3 -18.2 -5.7 34.0 17.5 17.5 -14.0 14.1 25.8 16.3 7.0 -9.3 18.7 93.7 63.3 23.0 2.1 38.2 78.3 67.0 31.4 -2.9 38.5 45.9 Net increase in liabilities 16.9 Credit market instruments 34.6 Corporate bonds Bank loans n.e.c. -7.0 -10.7 Open market paper 15 16 17 18 19 0.1 -13.5 5.5 -8.2 -10.7 0.1 22.8 5.1 17.7 0.1 -19.9 -4.8 1.5 -16.6 0.1 -12.0 7.8 0.3 -20.1 0.1 24.4 -.9 11.8 13.6 0.1 34.3 1.2 14.4 18.8 0.1 -.9 12.0 7.9 -20.8 0.1 16.4 8.6 -1.7 9.4 0.1 9.3 8.6 -7.5 8.2 0.1 30.3 10.6 -6.7 26.4 0.1 11.2 2.1 14.4 -5.3 20 -6.4 -9.4 -9.8 -5.1 -1.1 0.1 -9.2 -5.6 -13.0 3.6 -18.4 0.1 28.9 5.0 21.1 2.8 Taxes payable Miscellaneous liabilities Fgn. dir. invest, in U.S. Investment by parent Other -.7 Discrepancy 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 (1) Includes retail captive finance companies. F.126 Mortgage Companies 1 2 3 4 60.4 59.7 0.7 - 23.0 23.5 0.1 -.6 -38.5 -40.6 -.1 2.2 28.9 28.2 1.0 -.3 -12.8 -12.7 0.2 -.3 -50.4 -50.3 65.1 64.5 0.3 0.2 -1.6 -1.9 -.2 0.5 -13.3 -14.2 0.3 0.6 -55.4 -55.4 - -66.2 -66.2 - -20.0 Net acq. of financial assets Home mortgages -20.0 Multifamily mortgages Commercial mortgages - 1 2 3 4 5 6 7 60.4 22.2 38.2 23.0 27.5 -4.5 -38.5 -3.3 -35.2 28.9 14.4 14.5 -12.8 -6.4 -6.4 -50.4 -25.2 -25.2 65.1 32.4 32.7 -1.6 -.8 -.8 -13.3 -10.4 -2.9 -55.4 -27.6 -27.8 -66.2 -33.2 -33.0 -20.0 Net increase in liabilities Bank loans n.e.c. -10.0 -10.0 Investment by parent 5 6 7 X X F.127 Mutual Funds (2) 1 -14.4 -15.2 -16.3 -17.6 -19.7 -18. 0 -18.0 -18.0 -18.0 -18.0 -18.0 -18.0 Gross saving 1 2 3 178.3 4.9 183.2 2.5 184.2 3.8 225.8 4.1 185.7 4.8 250.9 6.0 340.0 6.0 330.9 6.8 273.5 5.3 96.0 3.0 134.7 0.5 113.2 Net acq. of financial assets 4.8 Checkable dep. and currency 2 3 4 5 6 7 8 9 10 11 57.3 116.1 65.6 53.4 12.2 33.3 23.4 -6.2 67.6 113.1 4.2 -14.4 18.6 29.5 39.4 40.0 54.7 125.7 23.7 -4.0 27.7 37.6 53.3 10.5 61.7 160.1 127.6 100.1 27.5 39.9 -34.4 27.0 84.8 96.1 85.9 74.9 11.0 38.0 20.4 -48.2 96.4 148.6 31.4 19.9 11.4 49.9 39.9 27.4 139.6 194.4 33.1 21.4 11.7 50.0 71.4 39.9 149.5 174.6 57.2 0.3 57.0 47.0 78.0 -7.7 129.8 138.4 45.5 61.9 -16.4 31.5 35.3 26.2 165.6 -72.6 -139.0 -99.2 -39.7 8.5 10.5 47.5 122.9 11.3 -8.0 8.1 -16.1 -2.6 -4.8 26.7 127.0 -18.6 -56.8 -65.6 8.8 0.9 11.8 25.5 12 192.7 198.3 200.4 243.4 205.4 268.9 353.0 348.9 291.5 114.0 152.7 131.2 Net share issues 13 7.8 7.1 16.0 14.1 51.4 9.3 18.9 15.6 101.3 15.2 5.0 4 Corporate equities Credit market instruments 5 U.S. government securities 6 Treasury 7 Agency 8 Tax-exempt securities 9 Corporate & foreign bonds 10 Open market paper 11 10.6 Memo: Capital gains dividends 12 13 (2) Open-end investment companies; does not include College Retirement Equities Fund (CREF), whicn is included in the private pension funds sector (F.123). F.128 Closed-End Funds 1 16.0 22.3 17.6 12.4 15.3 20.0 13.1 10.1 14.0 18.7 4.4 3.4 Net acq. cf financial assets I 2 3 4 5 6 1.2 14.7 3.0 13.1 -1.3 0.8 21.6 2.3 16.3 2.9 1.8 15.8 1.8 14.4 -.4 -2.7 15.2 1.3 13.3 0.1 -1.9 17.3 2.2 11.1 4.0 3.3 16.7 2.6 6.4 7.7 2.6 10.5 3.1 4.2 3.2 4.1 5.9 3.0 0.5 2.5 6.3 7.7 2.4 2.6 2.8 10.0 8.7 1.9 3.6 3.2 0.8 3.6 1.4 0.3 2.0 2.0 1.4 0.8 0.2 0.4 2 3 4 5 6 7 16.0 22.3 17.6 12.4 15.3 20.0 13.1 10.1 14.0 18.7 4.4 3.4 Net share issues Corporate equities Credit market instruments U.S. government securities Tax-exempt securities Corporate S -oreign bonds 7 F.129 Money Market Mutual Funds 1 2 3 4 5 32.1 -12.7 -.4 3.7 -9.6 34.0 -1.9 2,0 21.9 -5.2 25.2 -7.5 -9.7 11,3 -14.5 -10.0 -5.3 11.8 -42.1 18.9 -33.4 4.8 -12.7 4.6 -3.8 -46.8 6.6 21.1 -3.3 -6.9 61.8 -4.1 -31.5 -7.8 1.5 0.6 -4.5 -31.5 25.9 -25.1 47.7 7.8 18.6 -13.2 -10.9 -10.9 12.0 -19.6 -9.2 5.6 67.8 -14.9 6.1 8.0 -10.0 6 7 8 9 10 11 12 43.3 47.8 46.3 1.5 10.0 -14.5 7.7 25.6 7-8 14.1 -6.3 7.9 10.0 -8.4 -12.2 16.9 -.3 17,2 4,6 -33.8 57.8 21.3 28.1 0.6 27.5 -.6 -6.2 -14.6 -29.4 1.8 -14.0 15.7 8.0 -39.1 3.1 -57.3 -28.4 -13.4 -15.0 1.7 -30.6 -7.1 33.3 36.9 14.1 22.3 7.5 -11.0 70.4 25.3 33.7 -2.2 35.9 16.2 -24.5 10.5 50.3 13.6 4.7 8.9 3.9 27.8 -4.9 -37.4 -43.6 -45.1 1.4 28.2 -22.0 37.7 33.7 -9.4 -20,8 11.4 6,4 33.7 45,0 13 32.1 34.0 25.2 -10.0 -33.4 -46.8 61.8 0.6 47.7 -10.9 67.8 BILLIONS OF DOLLARS. 50.3 Net acq. of financial assats Checkable dep. and currency 0.8 18.4 Time deposits Security RPs -12.8 -3.0 Foreign deposits 54.6 12.3 1.0 11.3 4.6 37.5 -7.6 i 2 3 4 5 6 Credit market instruments 7 U.S. government securities Treasury 8 Agency 9 IS Tax-exempt securities 11 Open market paper Miscellaneous 12 50.3 Net share issues 13 DECEMBER 7, 1994 Other Finance, Continued Other Finance, Continued F.130-F.133 Other Financial Institutions, Continued 35 ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 F.130 Real Estate Investment Trusts (REITs) 1 Gross saving 2 Fixed nonres. investment 3 Multifamily resid. invest. 4 Net acq. of financial assets 5 Mortgages Miscellaneous assets 6 7 Net increase in liabilities Security RPs 8 9 Corporate equities Credit market Instruments 10 Mortgages 11 Corporate bonds 12 Bank loans n.e.c. 13 14 Open market paper 15 Miscellaneous liabilities 16 Discrepancy 0.1 0.2 0.1 -.1 0.2 0.1 0.1 « X 0.2 0.5 0.4 X X 0.1 0.3 0.6 -.3 * -.1 -.2 -.1 0.1 « 0.2 0.4 X X X X X X 0.5 0.1 -.3 l.l 0.1 0.3 1.9 0.2 0.1 1.5 0.2 0.2 1.0 0.1 1.1 0.1 0.2 1.8 0.2 0.2 1.9 0.2 0.5 3.8 0.4 2.1 5.6 0.6 1 2 3 2.0 0.8 1.2 2.7 2.4 0.3 0.1 0.1 2.1 1.0 1.1 3.5 0.9 2.6 1.5 0.5 0.9 -2.1 -.7 -1.5 0.8 -.7 1.5 -.2 1.1 -1.2 3.6 0.6 3.0 4 5 6 1.3 0.3 0.8 0.4 0.1 0.1 0.2 4.6 3.2 1.2 0.1 0.8 0.3 0.1 3.1 1.8 1.2 0.3 0.3 0.3 0.3 3.4 1.4 1.7 0.3 0.5 0.5 0.4 6.4 2.2 2.0 0.3 0.2 1.6 -.1 1.8 1.8 1.4 0.3 0.2 1.0 -.2 1.1 1.3 0.8 0.6 0.1 0.3 -.2 4.5 1.6 1.2 0.5 0.1 0.6 4.7 1.9 2.0 0.3 0.6 1.0 -1.3 18.4 2.1 12.9 3.5 3.6 0.4 -.2 -.3 7 8 9 10 11 12 13 14 0.2 0.1 0.1 0.4 2.3 -1.4 -.9 1.6 0.6 -.1 15 -1.3 0.4 1.3 -.2 2.0 -.9 1.5 1.8 1.1 10.6 16 X X X F.131 Security Brokers and Dealers X 1 Gross saving 2 Fixed nonres. investment -1.1 1.0 1.1 -1.2 1.2 -.2 1.1 -1.3 1.2 0.2 1.2 -3.0 0.9 -1.9 0.8 0.2 0.6 -2.9 0.5 -1.4 0.6 -.9 0.8 1 2 3 Net acq. of financial assets Checkable dep. and currency 4 Corporate equities 5 23.5 1.7 0.9 7.2 -.9 4.3 27.9 0.3 -1.0 37.6 2.4 2.6 28.6 2.2 1.4 -57.2 -1.4 -7.1 -2.0 1.9 0.1 100.7 0.4 -1.9 25.6 0.5 -3.3 70.4 -.1 2.4 39.6 0.2 -.6 81.7 2.0 8.0 3 4 5 Credit market Instruments U.S. govt, securities Treasury Agency Tax-exempt securities Corporate & foreign bonds Open market paper Security credit Miscellaneous assets 15.2 6.2 6.2 1.6 2.5 4.9 2.8 2.9 -10.6 -9.7 -9.7 1.8 2.0 -4.8 8.4 6.0 28.6 12.6 12.6 4.5 5.7 5.7 -2.3 2.4 4.1 -11.3 -16.2 4.9 8.9 9.2 -2.8 18.9 9.7 8.1 13.0 8.1 4.9 -3.3 0.3 -2.0 6.7 10.3 -35.0 -20.8 -25.7 4.9 -8.4 -4.4 -1.5 -16.3 2.7 -16.3 -25.8 -30.7 4.9 -.8 9.8 0.6 1.7 10.5 80.2 73.8 68.9 4.9 -.4 3.7 3.0 -1.0 23.0 2.8 5.4 -14.2 19.6 0.8 -4.0 0.6 -3.7 29.4 17.5 8.4 -1.6 10.0 1.6 12.0 -4.4 16.3 34.3 -6.9 -16.4 -15.3 -1.0 1.9 10.0 -2.4 -1.8 48.8 9.2 -19.2 -45.1 25.9 5.8 22.2 0.4 22.7 39.7 6 7 8 9 10 11 12 13 14 25.5 24.7 0.7 3.1 3.1 8.1 -15.9 0.4 1.0 5.2 2.4 2.7 30.1 17.1 0.7 1.1 6.8 5.8 1.0 38.5 -1.8 0.3 2.5 24.5 11.0 13.5 31.1 11.8 2.1 2.2 3.2 -5.8 9.0 -56.1 -49.8 -.1 6.3 -11.1 -5.3 -5.8 1.7 -13.1 4.3 -1.2 1.3 -.5 1.3 103.2 86.1 6.3 -3.0 16.6 4.3 12.3 25.8 16.8 1.5 3.4 7.2 -2.0 9.2 73.8 25.7 3.7 -5.7 35.2 10.6 24.6 41.6 16.4 2.7 -2.3 6.0 16.9 -11.0 83.0 14.3 12.0 1.7 39.3 12.7 26.6 15 16 17 18 19 20 21 0.5 0.3 -6.2 0.8 1.5 -8.4 2.4 2.5 -.2 13.1 0.3 1.0 11.8 2.1 0.4 -.1 2.2 0.5 0.8 0.9 1.8 2.5 0.3 6.9 -.3 8.5 -1.3 3.3 -.4 0.2 7.0 0.6 3.4 3.0 5.1 -.8 -.6 6.4 2.1 17.3 -13.0 -6.4 1.7 0.1 1.8 0.9 9.1 -8.2 6.8 -.5 0.1 -6.9 1.4 1.1 -9.3 4.6 -1.9 0.1 5. 0 0.1 -11.0 15.9 -6.3 0.7 0.2 4.0 2.0 -11.2 13.2 10.1 0.6 2.7 0.6 5.2 0.4 26.6 -21.9 7.3 22 23 24 25 26 27 28 -.2 -.2 -.2 -.3 0.1 -.1 -.1 -.2 6 7 8 9 10 11 12 13 14 15 Net increase in liabilities 16 Security RPs, net 17 Corporate bonds 18 Corporate equities Security credit 19 20 From banks Customer credit balances 21 22 23 24 25 26 27 28 Trade debt Taxes payable Miscellaneous liabilities Fgn. direct invest. In US Due to affiliates Other Proprietor net investment 29 Discrepancy X X X X X 11.8 28.9 -17.0 6.5 0.1 -.3 29 F.132 Issuers of Asset-Backed Securities (ABSs) 1 Net acq. of financial assets Agency securities (1) 2 Mortgages (2) 3 4 Home 5 Multifamily 6 Commercial 7 Consumer credit 8 Loans to business 9 Trade credit 10 Net increase in liabilities Corporate bonds 11 12 Commercial paper - 3.7 3.0 0.7 10.7 7.9 2.0 2.0 0.9 16.0 13.1 2.0 2.0 0.9 42.0 37.5 3.6 3.6 0.9 49.9 36.2 11.9 11.2 0.2 0.5 1.8 37.6 27.2 8.7 7.1 0.2 1.5 1.7 28.3 -6.1 11.0 8.5 0.1 2.5 21.6 0.6 1.2 52.3 6.7 10.9 10.0 0.3 0.7 29.7 3.8 1.2 51.0 -13.9 34.9 30.7 3.0 1.3 24.8 3.0 2.1 56.3 -26.4 59.3 48. 0 2.6 8.7 18.1 2.8 2.5 - 3.7 3.0 0.7 10.7 9.9 0.9 16.0 15.1 0.9 42.0 41.2 0.9 49.9 48.1 1.8 37.6 35.9 1.7 28.3 19.4 8.9 52.3 36.6 15.7 51.0 43.7 7.3 56.3 47.7 8.6 81.5 10 76.9 11 4.6 12 16.1 -1.0 1.6 -1.1 -.1 -.2 -.9 0.1 1 2 3 4 5 6 9.5 1.2 0.3 0.9 12.9 -1.1 -.3 -3.2 7 8 9 10 11 12 13 14 81.5 16.5 44.7 32. 0 2.4 10.3 9.3 9.7 1.3 1 2 3 4 5 6 7 8 9 (1) Includes federally related mortgage pool securities backing privately issued CMOs. Includes mortgages backing privately Issued pool securities and privately issued CMOs. (2) F.133 Bank Personal Trusts and Estates (3) 1 Net acq. of financial assets Deposits 2 Checkable dep. and curr. 3 4 Small time and svgs.dep. 5 Large time deposits 6 Money market fund shares -1.9 1.7 -.4 0.1 0.7 1.3 3.2 -1.4 -.5 0.2 1.1 -2.2 15.1 3.5 0.3 O.i 0.5 2.6 10.2 5.9 -.6 0.3 1.7 4.5 18.1 7.0 0.8 0.4 2.1 3.6 13.2 2.5 -.8 0.5 2.6 0.2 2.2 5.9 0.1 0.4 2.2 3.2 19.6 3.3 -.1 0.1 0.7 2.6 29.7 3.9 0.1 0.2 3.6 -.7 -3.8 3.6 -7.1 -5.7 -.1 -.8 -4.4 -.3 15.9 8.3 4.8 3.5 7.7 0.2 0.1 -.5 10.0 2.9 1.7 1.2 9.2 3.4 -.1 -5.2 8.0 -1.6 -.8 -.8 6.1 6.2 -.2 -2.5 9.7 0.5 -.4 13.5 -8.6 2.2 25.8 -37.0 1.8 7 8 9 10 11 12 13 14 Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate 2 foreign bonds Mortgages Open market paper 3.6 0.2 0.3 -.1 1.6 -1.4 0.2 3.1 9.1 3.8 1.6 2.2 4.6 -.3 0.7 0.3 13.7 5.4 4.2 1.2 4.1 -.2 -.5 4.9 9.7 3.5 1.1 2.4 8.4 0.1 * -2.2 18.5 1.5 0.7 0.8 8.6 4.9 -.5 4.1 12.5 5.6 3.2 2.4 6.2 4.5 -.8 -3.1 13.9 7.9 4.5 3.4 2.8 -.5 3.8 19.7 5.0 2.8 2.2 7.1 2.5 0.4 4.7 15 16 17 Mutual fund shares Corporate equities Miscellaneous assets 1.0 -8.2 0.1 1.1 -5.9 0.3 2.6 -4.9 0.1 6.4 -12.8 0.9 24.6 -31.7 -.3 1.7 -4.8 1.2 -12.3 -5.2 -.1 0.4 -5.2 1.4 (3) Includes personal trusts and estates administered by nondeposit nonlnsured trust companies. BILLIONS OF DOLLARS. X x X 44.9 15 -55.2 16 3.5 17 DECEMBER 7, 1994 Other Finance, Continued Other Finance, Continued F.130-F.133 Other Financial Institutions, Continued SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES 1991 I IV I 1992 I II III IV I I 1993 I II IV III I I I 1994 II III F.130 Real Estate Investment Trusts (REITs) 1 2 3 0.3 1.5 0.2 0.5 1.8 0.2 O.S 0.7 0.1 0.6 2.0 0.2 0.4 10.7 1.2 2.0 2.7 0.3 2.0 2.2 0.2 2.1 8.9 1.0 2.1 8.6 1.0 2.2 5.7 0.6 2.2 8.3 0.9 2.3 Gross saving 5.7 Fixed nonres. investment 0.6 Multifamily resid. invest. 1 2 3 4 5 6 5.7 -.9 6.6 -.6 -.7 « 1.9 2.6 -.7 -1.4 -.3 -1.1 -.5 2.6 -3.2 -3.5 0.2 -3.7 9.9 0.8 9.1 3.7 1.0 2.7 4.3 0.2 4.0 1.0 0.7 0.3 1.1 0.7 0.4 1.0 Net acq. of financial assets 0.7 Mortgages 0.3 Miscellaneous assets 4 5 6 7 8 9 10 11 12 13 14 9.1 1.7 2.9 0.9 0.7 1.5 -.1 -.9 1.6 1.2 3.2 0.9 0.6 1.8 -.2 2.0 1.9 -.1 1.3 0.1 0.6 0.6 K 1.7 2.0 1.4 2.3 0.4 0.5 1.3 * 16.1 2.0 5.4 -5.6 0.9 2.3 -8.8 0.1 5.5 2.1 10.1 0.4 1.4 0.4 -.6 -.8 22.5 2.4 15.5 1.3 1.4 0.5 -.1 -.6 24.3 2.3 15.6 6.0 6.2 -.1 -.2 0.1 21.2 1.8 10.S 6.2 5.5 0.7 0.1 13.7 1.3 13.3 1.2 0.2 0.8 0.2 X 17.2 1.0 13.1 2.2 0.6 1.1 0,4 0.2 15 4.4 -6.8 -1.2 -4.0 14.2 -7.1 3.4 0.5 2.7 -2.2 0.8 16 2.0 -l.S -.2 1.4 5.0 8.0 12.2 12.7 9.6 8.4 9.0 4.9 Discrepancy -.4 Gross saving 1.0 Fixed nonres. investment 10.0 Net Increase in liabilities Security RPs 0.5 9.5 Corporate equities 2.3 Credit market instruments Mortgages 0.1 1.4 Corporate bonds Bank loans n.e.c. 0.5 0.2 Open market paper -2.3 Miscellaneous liabilities 7 8 9 10 11 12 13 14 15 16 F.131 Security Brokers and Dealers 1 2 -1.3 0.5 -.5 0.5 -1.5 0.6 -1.2 0.6 -2.4 0.6 -1.0 0.7 -.9 0.8 -.8 0.8 -.7 0.8 -.6 1.0 -.5 1.0 3 4 5 97.5 4.5 -.2 -40.1 -.9 -8.8 79.5 1.4 2.2 213.5 1.4 -4.3 -94.4 -1.2 8.4 105.6 2.9 2.6 74.7 -.9 13.9 91.8 0.8 7.0 54.6 5.1 8.6 0.6 10.0 -7.6 -1.2 -2.7 -5.6 6 7 8 9 10 11 12 13 14 -1.2 -15.4 -12.9 -2.5 4.1 13.6 -3.3 40.0 54.4 -62.7 -70.1 -84.4 14.4 -6.3 15.3 -1.5 -15.4 47.6 107.6 74.7 39.1 35.6 9.0 11.6 12.4 20.4 -52.1 40.6 3.1 20.9 -17.8 -3.0 42.4 -1.9 -2.0 177.8 -113.1 -73.1 -36.8 -36.3 7.8 -29.3 -18.4 -10.3 21.9 75.2 39.1 -4.3 43.4 -5.6 36.0 5.7 23.4 1.5 52.5 27.3 -16.2 43.5 17.8 4.6 2.8 -1.5 10.6 -7.8 -48.3 - 139.7 91.4 -.5 43.0 -2.0 31.5 60.3 -82.8 -94.7 -20.1 -74.5 11.7 5.2 -5.0 37.2 86.5 -56.1 -47.2 -69.4 22.2 -16.2 15.8 -8.5 2.2 52.1 -52.6 -42.1 -72.9 30.8 -2.3 -38.2 30.0 -3.0 62.7 -14.4 13.5 -6.6 20.1 -.4 -3.8 -23.7 -14.0 42.6 15 16 17 18 19 20 21 99.6 20.2 3.2 -5.5 73.6 73.5 -39.3 -13.3 2.9 -1.8 -46.3 14.7 -61.0 81.9 70.9 13.5 -.6 -24.1 2.6 -26.7 215.4 115.7 -1.6 0.2 84.4 32.8 51.7 -91.4 -107.8 -4.0 -7.1 9.9 17.7 -7.7 107.4 90.6 -9.5 -4.5 21.4 -19.7 41.1 76.5 0.2 13.7 0.1 41.4 40.1 1.3 91.9 -1.5 14.6 4.3 45.1 -6.2 51.3 56.4 -32.0 29.3 6.8 49.3 36.4 12.8 2.2 -77.0 -9.9 1.9 27.5 -3.0 30.6 0.8 30.9 0.3 4.2 -14.3 -20.1 5.8 11.4 Net increase in liabilities 54.5 Security RPs, net -7.6 Corporate bonds l.S Corporate equities -48.4 Security credit -29.1 From banks Customer credit balances -19.3 15 16 17 18 19 20 21 22 23 24 25 26 27 28 2.3 0.7 -4.2 -.3 -36.5 32.7 9.5 -3.1 0.1 22.4 0.3 6.8 15.4 -.3 1.7 0.1 13.0 0.6 55.5 -43.0 7.4 0.5 0.3 9.4 26.7 -17.2 6.4 3.3 -.6 2.5 -1.0 26.5 -23.1 12.4 2.8 0.9 -8.2 0.2 17.7 -26.1 13.9 7.3 N 10.7 0.3 21.5 -11.1 3.0 2.0 1.5 10.8 0.1 7.1 3.6 15.1 -1.5 -.1 7.4 1.0 60.2 -53.9 -2.8 8.7 0.1 53.5 2.0 77.5 -26.1 -2.6 -9.1 -.3 -4.5 0.1 -3.0 -1.6 -6.4 l.l 0.2 12.0 1.5 25.0 -14.5 -2.1 22 23 24 25 26 27 28 29 0.3 -.2 0.4 0.1 0.1 -1.4 0.3 « K X K 0.5 9.6 Net acq. of financial assets -2.8 Checkable dep. and currency -1.8 Corporate equities Credit market instruments U.S. govt, securities Treasury Agency Tax-exempt securities Corporate 8 foreign bonds Open market paper Security credit Miscellaneous assets Trade debt Taxes payable Miscellaneous liabilities Fgn. direct invest, in US Due to affiliates Other Proprietor net investment O.S Discrepancy 1 2 3 4 5 6 7 8 9 10 11 12 13 14 29 F.132 Issuers of Asset-•Backed Securities (ABSs) 1 2 3 4 5 6 7 8 9 49.8 -23.6 41.7 33.9 7.0 0.8 24.8 4.6 2.3 42.9 -31.3 59.6 46.4 4.0 9.2 14.8 -2.5 2.3 50.7 -22.7 53.1 40.4 4.4 8.3 14.6 5.9 -.2 64.0 -30.2 76.5 69.2 7.3 16.4 -1.0 2.4 67.7 -21.6 48.1 36.0 2.0 10.1 26.6 8.9 5.6 62.0 11.9 35.5 20.0 1.4 14. 1 -2.1 16.1 0.5 60.5 15.5 38.6 32.0 3.0 3.6 -3.1 8.3 1.1 85.8 17.1 59.6 52.0 2.3 5.3 17.4 -5.6 -2.8 117.6 21.5 45.0 24.0 2.8 18.1 24.8 19.8 6.5 81.8 20.2 61.9 52.0 2.0 7.9 -10.3 9.2 0.8 4.0 -34.3 36.8 10.0 9.2 17.6 7.2 -3.6 -2.2 10 11 12 49.8 41.9 7.9 42.9 35.1 7.8 50.7 51.3 -.6 64.0 55.9 8.2 67.7 48.5 19.2 62.0 60.2 1.7 60.5 56.6 3.9 85.8 95.4 -9.6 117.6 95.3 22.3 81.8 88.8 -7.0 4.0 11.6 -7.6 22.3 Net acq. of financial assets -20.8 Agency securities (1) 32.3 Mortgages (2) Home 11.2 Multifamily 9.5 11.6 Commercial 6.0 Consumer credit 0.1 Loans to business 4.8 Trade credit 1 2 3 4 5 6 7 8 9 22.3 Net increase in liabilities 5.9 Corporate bonds 16.4 Commercial paper 10 11 12 (1) Includes federally related mortgage pool securities backing privately issued CMOs. (2) Includes mortgages backing privately issued pool securities and privately Issued CMOs. F.133 3ank Personal Trusts and Estates (3) -.8 -4.3 2.4 -.3 -4.5 -.1 -.8 -4.4 0.9 -10.2 -6.8 -.2 -1.0 -5.0 -.7 -12.0 -6.8 -.2 -.9 -4.7 -1.1 -6.0 -4.6 -.1 -.6 -3.3 -.5 -4.2 -2.5 -.1 -.4 -2.0 K -7.2 -.8 -.1 -.1 -.7 0.1 0.1 -.2 -.1 * -.2 0.2 17.6 -.8 -.1 -.1 -.7 0.1 15.4 -1. 0 -.1 -.2 -.8 0.1 -15.5 -.9 -.1 -.2 -.8 0.1 7 8 9 10 11 12 13 14 8.9 1.1 0.7 0.4 8.3 4.4 -.2 -4.7 8.6 -.3 M -.3 6.6 5.7 -.2 -3.3 7.6 -2.4 -1.2 -1.3 4.6 7.7 -.2 -2.2 7.5 -2.6 -1.4 -1.3 5.1 7.2 -.2 -1.9 8.3 -1.1 -.6 -.4 8.0 4.1 -.2 -2.6 9.1 0.5 0.5 10.7 1.2 -.2 -3.0 10.0 1.9 0.5 1.3 13.1 -1.4 -.3 -3.4 9.9 1.9 0.5 1.3 14.1 -2.4 -.3 -3.4 8.9 0.4 * 0.5 13.6 -1.8 -.3 -3.2 9.3 -.8 -.6 -.2 14.8 -1.6 -.2 -2.9 5.2 -1.9 -1.0 -.9 12.0 -1.9 -.2 -2.8 2.9 -2.2 -1.1 -1.1 10.0 -2.0 -.2 -2.7 15 16 17 17.8 -18.2 2.2 20.8 -27.0 1.8 23.0 -35.3 1.4 26.9 -41.1 1.6 32.5 -44.5 2.3 38.3 -52.0 2.9 44.1 -63.8 3.4 47.8 -61.1 3.7 49.6 -44.0 3.9 22.6 -19.6 4.1 22.7 -46.8 4.4 10.0 -10.0 4.7 1 2 3 4 5 6 7.9 -2.8 N 6.7 Net acq. of financial assets -.9 Deposits Checkable dep. and curr. -.1 -.1 Small time and svgs.dep. -.8 Large time deposits 0.1 Money market fund shares Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate 8 foreign bonds Mortgages Open market paper 7 8 9 10 11 12 13 14 Mutual fund shares Corporate equities Miscellaneous assets 15 16 17 (3) Includes personal trusts and estates administered by nondeposit noninsured trust companies. BILLIONS OF DOLLARS. 1 2 3 4 5 6 DECEMBER 7, 1994 Monetary and Insurance Reserves 37 Monetary and Insurance Reserves F.200-F.202 Foreign Exchange, Treasury Currency, and Insurance Reserves ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1991 1990 1989 1992 1993 F.200 Gold and Official Foreign Exchange Holdings (1) 1 Total U.S. reserves 5.0 1.2 3.1 3.9 -.3 -9.1 3.9 25.3 2.2 -5.8 -3.9 1.4 1 2 U.S. gold stock and SDRs U.S. govt.: Ex. Stab. Fund 3 4 Monetary authority (2) 1.4 1.4 x 0.1 0.1 1.0 1.0 0.9 0.9 0.2 0.3 0.5 0.5 -.1 -.1 0.5 0.5 0.2 0.2 0.2 0.2 -2.3 -2.3 0.5 0.5 X 2 3 4 5 U.S. foreign exchange position Official fgn.currency hldgs. 6 Treasury 7 Monetary authority 8 3.6 1.0 0.5 0.5 1.1 -3.3 -1.7 -1.7 2.2 1.2 0.6 0.6 3.0 3.9 1.9 1.9 -.6 0.9 0.5 0.5 -9.7 -3.8 -3.8 4.0 5.1 2.5 2.5 24.8 25.2 12.6 12.6 2.0 2.7 1.3 1.3 -5.9 -6.3 -3.2 -3.2 -1.6 -4.3 -2.1 -2.1 0.8 0.8 0.4 0.4 5 6 7 8 2.6 2.5 4.4 4.5 1.0 1.0 -.9 -.9 -1.5 -1.5 -2.1 -2.1 -1.0 -1.0 -.5 -.5 - -.7 -.7 0.4 0.4 2.7 2.7 9 10 11 Net IMF oosition U.S. government Monetary authority X X x X X X X X X X -7.6 X X X X X X X X X X X X 9 0.1 10 11 (11 Lines 1, 2, and 3 exclude increas es in SDRs through allocations, which have occurred at various d3tes beginning January 1970. Transactions in SDRs are included. Also excluded from the tabla are revaluations of foreign currency holdings, gold, SDRs, and IMF position. Allocations and revaluations are included in tables on outstandings. (2) Treasury gold stock. F.201 SDR Certificates and Treasury Currency SDR certificates: 1 Liab.: U.S. government 2 Asset: Monetary authority 1.3 1.3 - - 0.1 0.1 0.3 0.3 - - 3.5 3.5 1.5 1.5 - Treasury currency: 3 Liab.: U.S. government 4 Asset: Monetary authority 5 Discrepancy (seigniorage) 0.4 0.6 -.2 0.5 0.7 -.2 0.6 0.7 -.1 0.4 0.6 -.2 0.5 0.5 * 0.5 0.6 -.1 0.5 0.6 -.1 0.6 0.8 -.2 1.0 0.8 0.2 0.7 -.6 X - 1 2 0.2 0.4 -.2 0.4 0.6 -.2 3 4 5 -2.0 -2.0 F.202 Insurance and Pension Fund Reserves Life insurance reserves: 1 Net change in liabilities 2 U.S. government Life insurance companies 3 7.2 0.2 7.0 8.0 0.2 7.8 5.2 0.2 5.0 10.7 0.3 10.4 17.5 0.3 17.2 26.0 0.3 25.7 25.3 0.3 24.9 28.3 0.3 28.4 25.7 0.4 25.3 25.7 0.1 25.6 27.3 -.4 27.7 35.2 -.5 35.7 1 2 3 4 Net change in assets (HH) 7.2 8.0 5.2 10.7 17.5 26.0 25.3 23.8 25.7 25.7 27.3 35.2 4 5 Net change in liabilities 6 U.S. government Insurance sector 7 8 Life insurance companies 9 Private pension funds 10 St.aioc. govt. rtr. funds 170.9 11.7 159.2 39.7 87.8 31.7 168.2 14.1 154.1 38.3 80.2 35.1 157.2 18.0 139.3 46.7 47.3 45.3 271.7 18.8 252.9 63.4 136.2 53.4 289.1 20.8 268.3 82.5 114.1 71.7 201.3 18.9 182.5 62.7 60.0 59.3 132.3 19.6 112.6 85.0 -28.4 56.0 321.2 20.3 300.4 77.8 142.4 30.1 165.1 21.7 143.5 34.4 -10.9 70.0 360.3 25.5 334.8 81.1 192.5 61.2 249.7 27.5 222.2 75.2 75.0 72.0 304.7 5 27.6 6 277.1 7 102.0 8 92.4 9 82.7 10 ll Net change in assets (HH) 170.9 168.2 157.2 271.7 289.1 201.3 132.3 321.2 165.1 360.3 249.7 304.7 11 Pension fund reserves: BILLIONS OF DOLLARS DECEMBER 7, 1994 Monetary and Insurance Reserves Monetary and Insurance Reserves F.200-F .202 Foreign Exchange!, Treasury Currency , and Insurance Reserves 1991 IV 1 i 1992 I II ^8 SEASONALLY ADJUSTED ANNUAL RAT ES SEASONALLY ADJUSTED ANNUAL RATES Ill IV 1 < 1993 I II III IV 1 1 I 1994 II III F.,200 Gold and Official Fore ign Exchange Holdings (1) 1 -4.9 4.2 -5.9 -7.8 -6.2 3.9 -3.3 2.2 2.7 0.2 -10.8 2 3 4 0.1 0.1 0.7 0.7 0.7 0.7 0.7 0.7 11.3 11.3 0.6 0.6 0.7 0.7 0.5 0.5 0.4 0.4 X 0.5 0.5 - X X 0.4 0.4 - 5 6 7 8 -5.0 -4.9 -2.5 -2.5 3.5 4.0 2.0 2.0 -6.5 -6.5 -3.3 -3.3 -8.5 -9.0 -4.5 -4.5 5.1 -5.6 -2.8 -2.8 3.4 2.5 1.2 1.2 -4.0 -2.7 -1.4 -1.3 1.7 1.5 0.8 0.8 2.2 1.9 1.0 1.0 -.2 -.2 -.1 -.1 -11.2 -10.2 -5.1 -5.1 9 10 11 -.1 -.1 -.4 -.4 * 0.5 0.5 10.7 10.8 -.1 0.9 0.9 -1.3 -1.2 0.2 0.2 0.3 0.3 X - -1.0 -1.0 X X X X X X X X X X X X X X X -.2 Total U.S. reserves 1 0.4 U.S. gold stock and SDRs 0.4 U.S. govt.: Ex. Stab. Fund X Monetary authority (2) 2 3 4 -.6 U.S. foreign exchange position Official fgn.currency hldgs. 0.5 0.2 Treasury 0.2 Monetary authority 5 6 7 8 -1.1 -1.1 X Net IMF^ position U.S. government Monetary authority 9 10 11 (1) Lines 1, 2, and 3 exclude increases in SDRs through allocations, which have occurred at various dates beginning January 1970. Transactions in SDRs are included. Also excluded from the table are revaluations of foreign currency holdings, gold, SDRs, and IMF position. Allocations and revaluations are included in tables on outstandings. (2) Treasury gold stock. F.201 SDR Certificates and Treasury Currency 1 2 - - - - 3 4 5 0.5 0.7 -.1 0.1 0.3 -.3 0.3 0.5 -.2 0.2 0.3 -.2 -8.0 -8.0 0.3 0.4 -.1 SDR certificates: Liab.: U.S. government Asset: Monetary authority 1 2 0.6 0.8 -.2 Treasury currency: 0.8 Liab.: U.S. government 0.8 Asset: Monetary authority X Discrepancy (seigniorage) 3 4 5 - - - - - - 0.3 0.5 -.2 0.4 0.5 -.2 0.4 0.6 -.2 0.7 0.9 -.2 0.7 0.9 -.2 - F.202 Insurance and Pension Fund Reserves Life insurance reserves: 1 2 3 19.2 -.1 19.3 29.6 -.2 29.9 15.6 -.4 16.0 37.5 -.5 38.0 26.3 -.6 26.9 38.6 -.5 39.1 35.3 -.5 35.8 46.6 -.5 47.1 20.5 -.4 20.9 20.0 -.4 20.3 8.1 -.3 8.5 23.8 Net change in liabilities -.3 U.S. government Life insurance companies 24.1 1 2 3 4 19.2 29.6 15.6 37.5 26.3 38.6 35.3 46.6 20.5 20.0 8.1 23.8 Net change in assets (HH) 4 5 6 7 8 9 10 415.5 26.7 388.8 71.6 272.0 45.2 180.3 24.6 155.8 61.1 2.1 92.6 233.4 27.4 206.0 78.0 73.9 54.1 317.1 29.1 287.9 72.0 122.3 93.6 267.9 28.8 239.2 89.8 101.7 47.7 331.7 23.2 308.5 89.8 190.6 28.1 333.7 28.9 304.8 119.5 81.4 103.9 359.9 29.3 330.1 117.6 137.3 75.1 193.6 23.5 165.0 81.2 -39.8 123.6 -18.8 23.9 -42.7 76.3 -194.1 75.1 64.3 28.4 35.9 53.8 -108.3 90.3 11 415.5 180.3 233.4 317.1 267.9 331.7 333.7 359.9 193.6 -18.8 64.3 Pension fund reserves: BILLIONS OF DOLLARS. 197.8 Net change in liabilities 28.8 U.S. government 169.0 Insurance sector 70.5 Life insurance companies 6.7 Private pension funds 91 .8 St.Sloc. govt. rtr. funds 5 6 7 8 9 10 197.8 Net change In assets (HH) 11 DECEMBER 7, 1994 Interbank Claims Interbank Claims F.203 Net Interbank Claims 39 ANNUAL FLOWS ANNUAL FLOWS 1 Net chanse in liabilities Monetary authority 2 3 Depository inst. reserves 4 Vault cash 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 -2.4 2.2 1.3 0.9 -3.3 -3.6 -5.0 1.5 13.9 3.6 0.4 3.2 29.7 8.1 6.8 1.3 31.2 19.6 19.5 0.1 45.4 -7.1 -6.3 -.8 2.0 0.3 -2.4 2.7 -16.2 -2.7 -3.8 1.1 35.4 7.0 3.1 3.9 -3.9 -8.2 -9.2 1.0 61.7 0.9 2.7 -1.7 42.1 3.7 2.9 0.8 60.8 2.7 62.9 61.2 1 2 3 4 5 6 7 8 9 10 11 Commercial banking To monetary authority To banks in fgn. entries. Liabilities, net U.S.-chartered banks Due to fgn. affils. -Due from fgn.affils. -4.6 0.1 -3.5 7.0 -15.7 -2.7 12.9 0.3 -1.0 12.2 10.3 6.4 8.5 2.0 10.3 2.0 2.8 -.1 -5.8 0.9 6.7 21.5 -.4 16.6 11.9 8.5 10.3 1.8 11.7 -1.2 15.7 14.6 -3.6 -5.1 -1.5 52.5 1.8 54.7 52.6 26.4 12.0 -14.4 1.7 -1.2 5.9 5.5 2.2 12.1 9.9 -13.5 -1.9 -7.2 -9.1 -7.7 -9.7 -2.0 28.4 1.2 25.6 25.2 16.7 14.9 -1.8 4.4 -1.5 -20.3 -17.5 -5.7 7.4 13.1 -10.7 -10.7 38.4 5 -2.9 6 37.1 7 37.8 8 11.2 9 -.6 10 -11.8 11 12 13 14 Bank holding companies Due to fgn. affil. -Due from fgn. affil. -2.2 0.3 2.5 -3.1 0.7 3.8 -.6 0.8 1.4 -.5 -1.1 -.6 1.3 1.2 -.1 3.5 0.9 -2.6 1.7 4.7 3.0 1.8 -2.2 -4.0 0.4 0.5 0.1 -6.1 -2.2 3.9 6.0 1.0 -5.0 -3.5 12 -3.8 13 -.3 14 15 16 17 Fgn. bkg. off. in U.S. Due to fgn. affil. -Due from fgn. affil. 24.8 -6.3 -31.1 7.0 5.3 -1.7 6.3 -.9 -7.2 3.9 7.4 3.5 16.9 18.7 1.8 22.8 13.0 -9.7 1.5 0.3 -1.2 -3.2 -13.2 -10.0 8.1 7.9 -.2 -5.7 5.4 11.1 55.2 9.5 -45.7 30.1 15 -1.6 16 -31.6 17 18 19 20 Less: Dep. at fgn. banks U.S.-chartered banks Fgn. bkg. off. in U.S. 10.5 10.3 0.2 -1.8 -1.3 -.6 -2.9 -4.6 1.7 -4.7 -2.0 -2.7 -1.1 -1.0 -.1 -2.0 -1.9 -.2 -.4 -.2 -.2 -1.9 -2.3 0.4 -.5 -.7 0.3 2.8 2.9 -.1 -1.7 -1.7 0.7 18 0.7 19 * 20 21 22 23 24 25 26 -1.1 -2.0 -6.5 1.7 -7.1 -1.1 -10.9 -.1 -5.9 6.7 -1.7 -10.9 5.5 4.6 5.3 -1.7 6.9 0.3 1.3 5.3 -2.8 -.9 4.7 0.2 7.3 -2.8 -4.0 2.2 3.2 -1.9 9.1 -4.0 -3.0 0.1 4.3 0.3 7.0 -3.0 -4.4 -14.0 3.6 0.1 7.9 -4.4 1.6 -9.9 -7.6 -14.4 5.2 1.6 26.2 17.9 8.4 -2.2 -15.6 26.2 -4.9 14.6 -10.6 -.9 -4.8 -4.9 27 28 To U.S. banking, net U.S.-chartered banks Liabilities To bank holding cos. To fgn. off. in U.S. Unallocated Less, due from: Fgn. offices in U.S. Bank holding cos. -4.7 0.2 -5.4 -.4 -4.7 6.3 2.2 6.1 -.5 1.2 -.2 9.2 -5.0 16.3 1.3 5.7 -3.4 -8.1 -1.4 -21.8 -3.4 -10.5 27 4.6 28 29 30 31 Bank holding companies Due to U.S. banks -Due from U.S. banks -1.5 0.2 1.7 -7.1 -.4 6.7 2.5 -2.5 2.0 2.2 0.3 -.7 -.5 0.2 1.8 -.2 -1.9 -5.4 -5.0 0.3 1.2 1.3 0.1 11.0 -3.4 -14.4 0.8 -1.4 -2.2 -2.5 -3.4 -.9 4.7 29 4.6 30 -.1 31 32 33 34 Fgn. bkg. off. in U.S. Due to U.S. banks -Due from U.S. banks 2.3 -4.7 -7.1 -3.8 -5.4 -1.7 -1.5 -4.7 -3.1 5.0 6.3 1.3 -1.2 6.1 7.3 -7.9 1.2 9.1 2.3 9.2 7.0 3.4 16.3 7.9 0.4 5.7 5.2 7.5 -8.1 -15.6 -17.0 -21.8 -4.8 -12.3 32 -10.5 33 1.9 34 -1.2 -3.5 2.3 0.1 1.0 -.9 7.6 12.2 -4.6 -1.0 -1.2 0.2 8.4 2.8 5.6 2.0 -.7 2.7 24.4 16.6 7.7 -.4 0.1 -.5 34.1 15.7 18.4 -1.2 0.3 -1.5 49.3 54.7 -5.3 1.8 -.5 2.3 5.0 5.9 -.9 -1.2 0.5 -1.6 -11.8 -7.2 -4.6 -1.9 -.2 -1.7 33.8 25.6 8.2 1.2 1.5 -.3 -30.1 -20.3 -9.7 -1.5 -1.5 X 66.6 62.9 3.6 2.7 2.2 0.5 1.9 1.0 0.9 -4.5 -6.0 1.5 2.8 -.5 3.2 6.4 5.1 1.3 17.9 17.8 0.1 -6.4 -5.6 -.8 -.1 -2.8 2.7 -1.9 -3.0 1.1 8.1 4.2 3.9 -7.8 -8.8 1.0 0.8 2.5 -1.7 0.3 1.0 0.9 1.7 1.7 -.7 0.4 -.8 -1.1 -.5 0.1 0.4 44 -1.1 -10.9 5.5 5.3 -2.8 -4.0 -3.0 -4.4 1.6 26.2 -4.9 4.2 45 35 Net change in assets 36 Rest of the world 37 Domestic 38 Monetary authority 39 Federal Reserve float 40 Loans to memoer banks 41 42 43 Commercial banking Reserves at F.R. Vault cash 44 Thrifts: Reserves at F.R. 45 Discrepancy: Floats, etc. BILLIONS OF DOLLARS. X -2.5 -3.1 5.5 X X « X 4.2 11.9 6.0 -.1 1.9 4.2 37.9 37.1 0.7 -2.9 -2.3 -.6 21 22 23 24 25 26 35 36 37 38 39 40 3.3 41 2.5 42 0.8 43 DECEMBER 7, 1994 Interbank Claims Interbank Claims F.203 Net Interbank Claims SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES 1991 1 IV 1 1992 I II III IV 1 | 1993 I II III IV 1 1 I 1994 II III 1 2 3 4 -35.8 2.9 -1.0 3.8 87.0 6.5 3.3 3. 1 130.9 -11.7 -11.0 -.7 43.2 8.4 10:3 -1.9 -14.4 0.5 6.O' -7.5 63.8 27.2 12.7 14.5 130.2 -4.8 -9.2 4.4 -7.6 -8.9 -2.7 -6.2 -18.1 1.2 10.7 -9.5 150.8 19.6 5.2 14.4 195.7 21.1 11.4 9.7 -44.5 Net change in liabilities -44.3 Monetary authority Depository inst. reserves -26.5 -17.8 Vault cash 5 6 7 a 9 10 11 -38.6 2.6 -54.0 -47.1 -18.5 -1.9 16.6 80.5 -2.7 82.1 83.0 13.6 45.0 31.3 142.6 2.5 153.2 148.5 -6.7 -19.8 -13.1 34.8 -3.2 40.0 39.0 38.0 -49.0 -87.1 -14.9 14.2 -23.5 -25.6 -45.0 -18.9 26.1 36.6 -11.4 45.2 41.6 9.4 20.5 11.1 135.1 2.7 131.9 132.5 13.5 -10.0 -23.4 1.3 8.3 3.4 2.9 18.0 1.8 -16.2 -19.3 -11.3 -32:i -25.8 4.0 -14.6 -18.7 131.2 -.4 160.7 160.1 59.8 51.3 -8.5 174.5 2.6 i'66.6 158.8 86.5 64.0 -22.6 -.2 -3.5 -8.1 -5.7 65.4 14.0 -51.5 5 Commercial banking To monetary authority 6 7 To banks in fgn. entries. 8 Liabilities, net U.S.-chartered banks 9 Due to fgn. affils. 10 -Due from fgn.affils. 11 12 13 14 -14.6 -2.2 12.4 -17.5 -.9 16.5 17.2 1.8 -15.4 9.0 1.2 -7.8 15.3 2.0 -13.2 -23.3 -.2 23.1 18.0 -5.6 -23.5 -8.2 -1.1 7.2 -.5 -8.2 -7.7 -2.6 1.0 3.7 -18.7 0.4 19.1 12.8 1.3 -11.5 Bank holding companies 12 Due to fgn. affil. 13 -Due from fgn. affil. 14 15 16 17 -14.1 8.8 22.8 86.9 24.8 -62.0 138.0 16.5 -121.5 -8.1 -7.5 0.6 4.1 4.1 M 55.4 -6.2 -61.6 101.1 1.4 -99.7 -6.9 8.5 15.4 -29.4 -9.9 19.5 102.9 64.0 -38.9 91.0 -17.5 -108.5 -83.8 -17.1 66.7 Fgn. bkg. off. in U.S. 15 Due to fgn. affil. 16 -Due from fgn. affil. 17 18 19 20 6.9 9.8 -2.9 1.0 1.6 -.7 -4.7 -6.3 1.6 -1.0 -2.6 1.6 -2.0 0.6 -2.6 -3.7 -4.9 1.3 0.7 -.1 0.8 -.5 3.0 -3.5 6.3 4.7 1.6 -.6 0.3 -.9 -7.7 -8.1 0.4 2.4 3.1 -.7 Less: Dep. at fgn. banks 18 U.S.-chartered banks 19 Fgn. bkg. off. in U.S. 20 21 22 23 24 25 26 12.8 35. 1 17.3 -2.4 6.9 12.8 1.2 -2.2 -11.7 5.5 -18.4 1.2 -13.1 41.2 4.0 -3.6 20.8 -13.1 -2.0 16.4 -4.3 -1.8 -.5 -2.0 -5.5 3.1 -30.3 -3.7 -21.1 -5.5 2.7 0.7 -2.4 -1.8 -3.3 2.7 0.5 28.4 13.2 1.3 11.3 0.5 -10.4 -4.3 -12.9 2.9 -5.4 -10.4 24.0 22.5 26.0 -2.8 4.8 24.0 -29.1 -42.7 -49.1 -1.5 -18.4 -29.1 5.3 57.1 35.7 0.2 30.1 5.3 11.4 -4. 0 0.5 0.1 -11.0 11.4 27 28 -13.8 -4.0 -8.4 -1.1 -33.9 -3.3 -13.9 -1.8 -26.0 -7.4 -3.2 0.1 -21.3 6.0 -11.4 2.8 -6.1 9.6 -5.7 -.7 -26.9 5.6 29 30 31 -1.6 -4.0 -2.4 -6.6 -1.1 5.5 0.3 -3.3 -3.6 0.1 -1.8 -l.S -3.7 -7.4 -3.7 1.9 0.1 -1.8 4.7 6.0 1.3 -.1 2.8 2.9 12.4 9.6 -2.8 0.9 -.7 -1.5 32 33 34 -20.7 -13.8 6.9 10.0 -8.4 -18.4 -54.7 -33.9 20.8 -18.4 -18.9 -.5 -4.9 -26.0 -21.1 0.1 -3.2 -3.3 -32.5 -21.3 11.3 -6.1 -11.4 -5.4 -10.9 -6.1 4.8 35 36 37 38 39 40 -48.6 -54.0 5.4 2.6 3. 0 -.4 85.8 82.1 3.7 -2.7 -2.1 -.7 144.1 153.2 -9.2 2.5 -2.7 5.2 45.2 40.0 5.2 -3.2 -.2 -3.0 -8.8 -23.5 14.7 14.2 13.9 0.3 61.1 45.2 15.8 -11.4 -11.7 0.3 129.7 131.9 -2.2 2.7 -.5 3.1 2.8 3.4 -.6 8.3 2.7 5.5 -42.1 -32.1 -10.0 -11.3 41 42 43 1.6 -2.2 3.3 5.7 2.6 3.1 -9.8 -9.1 -.7 7.9 9.8 -1.9 -.7 6.7 -7.5 28.1 13.5 14.5 -6.2 -10.6 4.4 -8.9 -2.7 -6.2 44 1.3 0.7 -1.9 0.5 1.3 -.9 1.4 45 12.8 1.2 -13.1 -2.0 -5.5 2.7 0.5 BILLICNS OF DOLLARS. K -10.4 1 2 3 4 21 22 23 24 25 26 5.5 -1.0 To U.S. banking, net U.S.-chartered banks Liabilities To bank holding cos. To fgn. off. in U.S. Unallocated Less, due from: Fgn. offices in U.S. Bank holding cos. 5.3 5.6 0.2 -1 . 1 -1. 0 0.1 Bank holding companies Due to U.S. banks -Due from U.S. banks 29 30 31 12.7 -5.7 -18.4 -57.0 -26.9 30.1 16.5 5.5 -11.0 Fgn. bkg. off. in U.S. Due to U.S. banks -Due from U.S. oanks 32 33 34 -11.3 179.9 160.7 19.2 -.4 -1.9 1.5 190.3 166.6 23.8 2.6 1.7 1.0 -55.8 Net change in assets -8.1 Rest of the world -47.8 Domestic -3.5 Monetary authority -2.7 Federal Reserve float -.8 Loans to member banks 35 36 37 38 39 40 0.3 9.8 -9.5 20.4 6.0 14.4 21.3 11.6 9.7 -43.2 -25.5 -17.8 41 42 43 0.9 -.3 -.2 -1.0 24.0 -29.1 5.3 11.4 Discrepancy: M Commercial banking Reserves at F.R. Vauit cash Thrifts: Reserves at F.R. Floats, etc. 27 28 44 45 DECEMBER 7, Deposits 1994 Deposits F.204-F.206 Deposits 41 ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1986 1985 1987 1988 1989 1990 1991 1992 1993 F.204 Checkable Deposits and Currency 1 Net change in liabilities 46.9 37.8 39.5 10.3 1.7 2 3 4 5 Monetary authority U.S. govt, cash 8 deposits Deposits due to foreign Currency outside banks 10.2 0.7 -.2 9.7 13.0 -1.3 14.3 6 7 8 9 Commercial banking U.S, government deposits Deposits due to foreign Private domestic deposits 19.3 6.1 -3.4 16.6 124.4 83.8 3.9 42.7 6.4 43.3 86.4 113.8 117.3 1 9.5 -2.4 0.2 11.7 25.2 2.8 -.2 22.6 29.2 8.8 0.6 19.8 17.6 -10.3 -.7 28.6 37.1 7.2 0.1 29.8 2 3 4 5 74.1 12.1 -.4 62.4 6 7 8 9 8.6 16.6 4.1 0.1 12.4 12.4 -1.9 -.2 14.4 16.7 -2.3 -.1 19.0 18.1 3.3 0.1 14.7 15.0 -5.3 1.6 18.8 28.7 4.0 2.1 22.6 54.2 10.3 1.4 42.6 94.5 1.7 2.9 90.0 -19.7 -5.8 -1.3 -12.6 17.1 7.3 -.6 10.4 -3.4 -3.4 -.1 0.1 21.4 5.3 -.1 16.1 37.7 5.5 -2.0 34.2 93.1 -5.9 2.3 96.7 8.3 6,5 1.8 11.5 9.2 2.3 7.9 6.4 1.5 13,0 9.9 3.1 17.5 17.1 0.4 7.0 5.3 1.7 7.5 6.8 0.8 0.2 -1.1 1.3 -3.3 -4.8 1.5 19.5 17.3 2.2 3.2 -1.4 4.5 6.1 10 4.4 11 1.7 12 13 Net change in assets 37.8 39.5 46.9 83.8 124.4 3.9 42.7 6.4 43.3 86.4 113.8 117.3 13 14 15 16 17 18 19 20 21 Household sector Nonfinancial business Farm Nonfarm noncorporate Corporate State and local governments U.S. government Rest of the world 21.0 11.6 0.2 3.5 7.9 -1.6 6.4 -3.7 13.2 29.3 0.3 3.2 20.8 -.7 -8.3 1.6 -.9 34.2 0.2 4.8 29.1 5.0 5.3 2.1 16.9 38.6 0.7 11.5 26.5 1.1 13.0 1.5 87.9 29.1 1.1 6.0 22.0 2.5 0.4 2.7 -4.3 21.1 -.2 2.5 18.8 -.7 -8.1 -1.4 19.0 6.7 0.5 7.7 -1.5 3.0 9.0 -.5 -5.6 18.2 0.1 4.3 13.9 0.4 -14.2 0.2 5.4 8.0 0.4 -.5 8.1 -1.0 4.8 -.3 62.0 9.3 1.0 0.1 8.3 4.7 27.4 -1.4 123.8 -3.1 1.8 5.5 -10.4 3.1 -16.9 1.5 78.0 6.1 1.7 2.0 2.5 1.4 20.7 -.3 14 15 15 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 Financial sectors Govt.-spons. enterprises Commercial banking Savings institutions Credit unions Life insurance companies Other insurance companies Private pension funds St.Sloc. govt. rtr. funds Finance companies Mutual funds Money market mutual funds Brokers and dealers Bank personal trusts 5.4 -.2 0.5 2.8 0.2 0.3 2.6 0.6 0.5 -1.2 0.4 0.7 0.5 0.6 0.6 0.2 0.4 -1.0 0.3 0.3 10.6 0.8 0.4 0.8 0.7 0.5 1.2 0.7 0.4 0.3 1.7 1.4 2.4 -.6 11.5 1.5 -.1 0.5 0.7 0.7 1.3 0.3 0.7 0.4 2.6 -.2 2.2 0.8 -3.0 -.1 -.8 -2.3 -.9 -.1 0.7 1.8 0.6 0.5 -.3 -1.4 -.8 3.1 -.6 0.8 0.2 -.3 -.1 -.5 -.4 0.8 0.3 1.0 1.9 0.1 1.2 -1.3 -.4 -.8 0.6 0.5 0.6 1.2 -1.2 1.0 1.3 -.6 0.4 -.1 14.5 -.2 -.1 -.3 -.1 0.5 0.1 1.5 1.1 0.2 11.3 0.5 0.1 -7.0 -.9 -.8 2.0 0.6 0.5 -1.1 -1.1 0.6 1.2 3.6 -11.6 -.1 3.1 14.0 0.9 -.3 3.1 -.1 0.3 -.4 -1.2 0.4 0.1 0.3 0.8 1.7 -.4 0.2 0.2 0.2 0.8 0.4 -.6 -.4 0.5 0.4 0.1 0.6 -.6 -.9 -.5 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 Mail float -1.5 4.2 -1.4 2.1 -9.5 0.4 2.5 6.2 11.8 -8.6 2.2 10 11 12 Thrift institutions Savings institutions Credit unions X X X x X X -.5 -.6 1.2 -.6 0.2 -.1 0.8 1.3 3.8 -2.5 0.2 -.1 X 0.7 0.4 6.0 1.5 2.0 -.1 -2.8 36 F.205 Small Time and Savings Deposits 139.6 216.6 151.3 142.6 129.4 77.1 122.8 98.7 63.7 1.5 -57.2 -70.3 1 2 3 4 5 Commercial banking U.S,-chartered banks Foreign banking off. in US Banks in U.S.-aff. areas 97.3 96.4 0.9 0.1 130.9 130.8 -.9 0.9 75.1 74.6 0.5 X 81.8 80.3 1.1 0.3 74.3 71.6 2.2 0.5 27.9 27.4 0.6 -.1 74.0 73.1 0.5 0.3 100.7 96.5 3.7 0.5 123.0 121.9 -1.0 2.1 78.9 80.0 -.1 -1.0 2.7 2.1 0.2 0.4 -11.9 -10.9 -.8 -.2 2 3 4 5 6 7 8 Thrift institutions Savings institutions Credit unions 42.3 34.1 8.2 85.8 73.1 12.6 76.2 64.9 11.3 60.8 41.4 19.4 55.2 29.0 26.1 49.2 37.9 11.4 48.9 37.6 11.3 -2.0 -6.2 4.2 -59.3 -73.7 14.4 -77.4 -94.9 17.5 -60.0 -75.5 15.5 -58.4 -63.1 9.8 6 7 8 139.6 216.6 151.3 142.6 129.4 77.1 122.8 98.7 63.7 1.5 -57.2 -70.3 9 122.5 4.8 2.0 2.8 1.5 0.5 4.9 5.3 0.1 187.2 11.1 8.2 2.9 5.3 -.5 3.2 10.0 0.2 138.2 8.9 8.0 0.9 -2.6 0.5 -.7 6.9 0.1 115.3 8.4 6.9 1.5 -5.4 98.6 8.0 6.7 1.3 0.2 0.2 6.6 15.4 0.4 52.5 -.4 -1.1 0.7 9.2 0.2 0.2 14.9 0.5 93.9 8.1 5.5 2.5 7.1 -.2 -2.7 16.2 0.4 64.0 4.7 5.1 -.4 9.9 -.1 -3.7 23.8 0.1 66.3 -.5 0.4 -.9 7.3 0.1 0.2 -9.8 -45.4 -.7 -2.0 1.3 5.8 0.1 2.7 39.7 -.7 -64.7 -1.3 -.5 -.8 1.0 -.7 0.2 9.0 -.8 -68.8 -.8 -1.8 1.1 -3.1 -.1 -.7 3.3 -.2 10 11 12 13 14 15 16 17 18 1 Net change in liabilities 9 Net change in assets 10 11 12 13 14 15 16 17 18 Household sector Nonfinancial business Nonfarm noncorporate Corporate State and local governments U.S. government Credit unions Private pension funds Bank personal trusts X 5.3 18.7 0.3 X F.206 Large Time Deposits (1) I Net change in liabilities 23.8 -11.3 86.8 17.1 3.6 49.8 53.2 16.9 -66.1 -58.5 -73.2 -23.5 1 2 3 4 5 Commercial banking U.S.-chartered banks Foreign banking off. in US Banks in U.S.-aff. areas 12.2 2.3 9.8 0.1 -46.6 -38.7 -8.7 0.9 37.8 33.9 3.9 11.0 10.8 -.2 0.3 1.5 -6.6 7.6 0.5 41.4 37.7 3.8 -.1 41.8 35.2 6.3 0.3 28.9 24.0 4.4 O.S -22.1 -20.5 -3.7 2.1 -24.0 -73.1 50.1 -1.0 -66.8 -76.2 9.0 0.4 -21.0 -20.0 -.8 -.2 2 3 4 5 6 7 8 Thrift institutions Savings institutions Credit unions 11.6 11.4 0.2 35.3 35.3 * 49.0 48.9 0.1 6.1 5.8 0.3 2.1 1.4 0.7 8.4 8.1 0.3 11.4 11.0 0.4 -12.1 -15.1 3.1 -44.0 -41.9 -2.1 -34.4 -35.3 0.8 -6.4 -7.9 1.6 -2.5 -3.6 1.1 6 7 8 9 Net change in assets X 23.8 -11.3 86.8 17.1 3.6 49.8 53.2 16.9 -66.1 -58.5 -73.2 -23.5 9 10 11 12 13 14 15 Household sector Nonfinancial business Nonfarm noncorporate Corporate State and local governments Rest of the world -12.3 9.8 1.4 8.5 2.4 6.8 -2.5 14.2 5.5 8.7 -11.6 0.5 73.6 8.1 5.3 2.8 2.8 4.6 -9.7 9.1 4.6 4.5 12.4 3.7 -15.7 10.4 4.5 5.9 2.1 -2.7 41.8 2.7 -.7 3.4 -2.1 0.9 33.0 15.2 3.7 11.5 -9.1 3.1 7.0 1.7 3.4 -1.8 -12.7 -1.9 -28.5 -2.9 0.3 -3.2 -10.0 -.5 -68.6 2.5 -1.4 3.8 -15.7 -.6 -46.6 -7.1 -.3 -6.7 -7.2 -3.2 -19.3 1.8 -1.2 3.1 -1.7 -1.7 10 11 12 13 14 15 16 17 18 19 20 21 22 Financial sectors Saving institutions Credit unions Private pension funds St.Slocal govt.rtr.funds Money market mutual funds Bank personal trusts 17.0 7.2 2.5 7.6 2.2 -3.1 0.7 -11.9 1.2 -1.6 1.4 2.8 -16.8 1.1 -2.4 -5.5 -.4 0.3 3.2 -.4 0.5 1.6 2.3 -.3 3.3 1.4 -6.8 1.7 9.4 4.0 0.5 4.0 -3.4 2.3 2.1 6.5 -8.5 0.2 2.4 -4.7 14.4 2.6 11.0 22.8 -2.1 1.0 12.8 1.9 8.5 0.7 -24.1 -.1 0.2 -2.6 -1.7 -20.2 0.2 24.0 -.3 2.3 13.8 -9.1 -1.3 0.1 0.4 -1.8 -2.1 -4.4 -2.6 -.7 -.6 2.8 2.6 -5.8 -.9 16 17 18 19 20 21 22 (1]1 Large time deposits are those Issued in amounts of $100,,000 or more. BILLIONS OF DOLLARS X -.8 8.5 1.9 -.8 2.2 X 12.0 -3.8 DECEMBER 7, 1994 Deposit* Deposits F.284-F.206 Deposits 42 SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES 1992 1991 I IV I I XI II IV (II 1993 IV III 1994 II I I III P<-204 Checkable Deposits and Currency -61.0 Net change In lieh'illties 1 105.6 161.5 65.1 176.7 51.6 99.7 214.4 73.1 81.9 173.1 -66.0 2 S 4 S 60.6 41.3 1.6 17.6 *10.5 -23.9 -2.4 15.8 25.3 1.7 -.6 24.2 87.9 51.6 : :1.3 34.9 -32.4 -70.7 -1.3 39.6 34.4 1ft.C 0.4 16.0 93.7 60.6 -.1 33.2 5.3 -35.0 0.9 39.5 15.? *14.8 -.5 30.3 29.0 -11.4 0.3 40.1 21.0 -15.2 0.6 35.6 34.7 3.4 -1.0 32.3 6 7 S 9 -20.1 9.9 0.6 -30.5 169.6 -31 .'4 2.9 198.1 60.8 14.'5' 6/9 39.5 84.2 6.1 -1.0 7911 57.6 -12.7 0.3 69.9 ■32.8 -.6 2.3 41.2 104.1 9.0 -.6 95.9 57. ft 6.0 9.4 41.6 52. * 34.0 •12.6 31.0 156.2 33.6 9.7 114.9 -85.4 i9.3 4.3 -40.5 -i12.9 •50.0 10 i:i 12 05.1 05.1 •' « 2.4 -1.6 '4.2 -21.0 -25.1 4.2 4.7 26.6 21.5 '5.1 —1 ? . 1 -.5 t6.5 i6.9 ■ -. 3 10.8 7. j 3.7 ;*.s 10.7 3.8 -14.0 -15.2 1.2 1-3 <05.6 (61.5 65.1 .76.7 51.8 •?8.7 /i 4 * 73. J Oi.9 173.1 -66.0 14 15 16 17 46.4 1.0 0.8 0.4 -.2 4.0 143.9 2.2 176.1 21.9 1.8 5.3 14.8 4.0 <■70.1 0.5 44.9 1.3 1.8 5.3 -5.7 -3.0 27.3 6.2 159.4 -30.6 1.8 ;.s 114.8 •’•-5.2 1.9 5.7 -12.8 -.7 71-6 .3 ; .i 1.7 127 6:3 i.7 •s f. • .? 51.* -3.5 1.7 ?.£■ “?.*» -7.9 90.8 ’.4 i.7 3.0 3.1 11.8 2<.7 10.fi 35 fl f r, ."J. A 71.2 15.2 :.7 2.1 il.5 .7 ► .8 5.’. -.5 -.4 -.5 -.8 -.9 0.4 6.8 -4.5 0.8 -.1 41.8 3. “ 3.3 14.5 1.4 -.5 -.3 4.8 0.4 5.3 7.8 5.1 -.1 29.4 -i.<* <1.6 6.5 0.1 5.7 -.2 -2.1 0.2 0.4 3.0 12.0 10.0 -.1 -35.4 -.4 1.3 -.2 1.5 -2.3 a. 4 6.0 6.6 2.9 -.1 r - . ?• -.6 -.e 0 ‘.3 5.4 -.5 - .2 1.0 C.4 6.0 -4.1 -.9 -.1 0.4 0.4 0.5 -14.9 -2.7 -.1 -.5 0.4 0.4 4.8 0.6 -2.8 -.1 2.7 11.2 -3.1 -21.7 -1.8 -.6 8.6 IS 19 io 21 4.6 ■ '7.9 s ' - 0. '<■ 9 ■ .2 ■ .9 i2 23 24 25 26 27 28 24 30 31 32 33 34 35 4.6 -2.2 -.6 4.4 0.9 -.1 -.8 1.0 4.1 1.3 4.9 -12.7 4.5 '■ w 0.3 0.2 -.3 -4.0 2.4 0.1 -.1 0.2 0.6 1.3 2.5 -1.9 -.9 -.1 -1.9 -1.0 -.i -2.1 0.7 -.6 C.4 « 2.4 1.3 3.8 -7.5 1.4 -.2 -■ ?.8 -.3 .3 -;. 4 3.5 ' 1.4 3.9 1.3 4.1 -5.3 1.4 -.2 '25.0 1.1 -.7 11.3 -.3 -.9 0.1 0.8 3.9 1.4 4.8 4,8 -1.2 -.1 36 -98.6 26.7 -9.7 -.5 -9.6 . .‘j • -i.l ? . -i .& '~31 -1 10.a t 7.0 l.S -3.4 • -4.8 1.2 •2.3 1.7 "■.5 ■8.5 -3.7 -64.7 4.9 1.5 -J 7.6 0.2 • .i « -1.8 -3.1 -53.7 -7.9 -3.1 0.2 2 3 4 5 Commercial banking U.S. government deposits Deposits due to Foreign Private domestic deposits 6 7 6 9 ThriFt institutions Savings institutions Credit unions -81.0 N*t change in assets ■14.8 t.O •3.7 4.0 . -:.6 '-■.8 ■S1 4 ifi. 1 ?.6 J.S 1.9 -.8 -i.7 1 Monetary 'authority U.S. govt, cash 8deposits Deposits due to Foreign Currency outiide banks 1C ll 12 13 ^ou’thold sector MonFinancial business Farm NohFarm noncorporate Corporate State and local governments U.S. government Ses? of the world A4 »5 ifc 17 18 19 20 Financial sectors Sovt.-spons. enterprises Commercial banking Savings institutions Credit unions uiFe insurance-companies Other' insurance companies Private pension Funds St.Bloc. govt. rtr. Funds Finance companies Mutual Funds Money market mutual Funds Brokers snd dealers Bank personal trusts 22 23 24 25 26 27 28 29 30 31 32 33 34 35 Mall Float 36 2i F.205 Snell Time and Savings Deposits 1 1 -47.4 -47.1 -60.1 -91.8 -29.9 -108.5 -67.8 -66.1 -36.6 2.5 -59.9 -61.5 Net ehange in liabilities 2 3 4 5 23.0 32.6 -8.9 -.8 19.7 21.9 -2.2 e -ll.l -14.6 2.9 0.6 -13.1 -10.9 -2.8 0.7 15.5 12.1 3.1 0.3 -20.1 -20.4 0.3 -.1 -4.4 -6.6 2.7 -.3 -31.3 -22.6 -6.4 -.4 6.2 6.3 2.1 -.2 0.6 1.5 -1.0 a -8.0 -10.1 1.9 0.2 -10.6 -5.6 -5.4 0.4 Commercial banking U.S.-chartered banks Foreign banking oFF. In US Banks in U.S.-aFF. areas 2 3 4 5 6 7 6 -70.4 -93.2 22.8 -66.6 -92.7 26.0 -49.0 -54.3 5.4 -78.7 -91.6 12.6 -45.3 -63.2 17.6 -68.4 -96.5 6.1 -63.4 -74.8 11.3 -36.6 -47.2 10.4 -44.6 -54.1 9.3 2.0 -17.6 19.7 -51.9 -59.5 7.7 -50.9 -60.9 10.0 ThriFt Institutions Savings Institutions Credit unions 6 7 6 9 -47.4 -47.1 -60.1 -91.6 -29.9 -106.5 -67.6 -66.1 -36.6 2.5 -59.9 -61.5 Net change In essets 10 11 12 13 14 15 16 17 16 -101.0 -.8 -2.9 2.1 4.5 0.1 3.5 47.2 -.6 -42.1 -1.6 -.2 -1.4 -71.3 -.9 -.1 -.8 1.4 -2.7 -1.2 -.8 1.2 1.5 10.3 -1.0 -96.4 1.2 -.2 1.4 2.3 -.1 -2.1 4.2 -.9 -46.8 -3.6 -1.4 -2.2 1.8 -5.2 3.6 22.6 -.6 -136.1 -1.6 -3.0 1.4 -.5 0.2 -1.0 30.6 -.4 -55.2 -.3 -1.7 1.4 -2.2 -.4 -2.5 -7.1 -.1 -79.9 4.5 -1.4 5.9 -3.6 H 6.6 4.7 N -3.6 -5.6 -1.2 -4.4 -5.6 -.1 -6.0 -15.3 -.1 59.9 3.0 -.5 3.6 -7.4 -.4 -5.6 -46.9 -.2 -6.6 2.4 -.3 2.8 -9.3 -.1 -6.0 -36.2 -.2 -61.1 -1.3 0.2 -1.5 -11.0 0.1 12.1 -.2 -.1 Household sector NonFinancial business NonFarm noncorporate Corporate State and local governments U.S. government Credit unions Private pension Funds Bank personal trusts 9 10 11 12 13 14 15 16 17 16 F.206 Large Time Deposits (1) 1 1 -94.4 -56.1 -112.0 -33.6 -91.1 -21.6 -26.6 -59.5 13.7 -S9.6 -4.6 60.6 Net ehange In liabilities 2 3 4 5 -73.5 -90.6 16.0 -.6 -51.5 -79.2 27.6 - -90.5 -74.S -16.6 0.6 -40.9 -64.S 22.7 0.7 -64.5 -66.9 2.1 O.S -2.3 -18.4 16.2 ■ -26.0 -24.7 -2.9 -.3 -56.5 -27.1 -Sl.l -.4 4.6 -9.9 14.6 -.1 -36.0 -2.5 -S3.6 a -.2 6.9 -9.3 0.2 75.9 16.3 59.3 0.4 6 7 6 -20.6 -21.6 0.9 -4.7 -6.1 1.5 -21.5 -2S.0 1.5 7.S 5.6 1.7 -6.6 -6.2 1.6 -19.3 -19.6 0.4 1.2 0.7 0.5 -1.0 -2.9 1.9 9.1 7.4 1.7 -3.6 -3.6 0.3 -4.6 -4.9 O.S 4.6 4.6 0.1 9 -94.4 -56.1 -112.0 -33.6 -91.1 -21.6 -26.6 -59.5 13.7 -39.6 -4.6 -25.4 -.4 -.9 0.5 -6.2 -4.S -16.6 9.4 -.6 10.2 6.2 -.6 -1.9 -1.0 -.3 -.7 5.5 1.3 -13.3 4.2 -.2 4.4 9.2 3.0 50.1 -.7 0.2 -.8 12.3 1.3 Household sector Nonfinancial business Nonfarm noncorporate Corporate State end loeal governments Root of the world to -21.2 1.6 -S.6 0.7 11.6 -SI.5 -.2 15.4 -.9 5.9 -1.5 -6.1 16.6 -.7 -43.4 -1.1 -11.6 -10.6 0.3 -19.6 -.6 -7.9 -3.3 -2.4 -7.9 0.5 6.1 -.6 17.5 -2.4 -.4 2.2 0.5 16.4 -.6 Financial sectors Saving institutions Credit unions Private pension Funds St.Bleoal govt.rtr.funds Money market mutual funds Bank personal trusts 16 17 16 19 20 21 22 10 11 12 IS 14 15 -77.2 -6.7 -1.9 -6.6 -19.1 1.6 -22.6 -6.5 -.1 -6.4 -7.7 -15.4 -66.6 -6.9 -.1 -6.6 -10.6 -1.1 -26.9 -IS.7 -.2 -13.5 0.6 0.4 -67.9 -1.1 -1.0 -.2 -11.1 S.2 -47.7 2.6 -2.9 4.6 0.1 -S.O 12.4 -4.2 -1.1 -S.l -5.1 1.2 16 17 16 19 20 21 22 6.6 -.7 l.S 16.6 -S.9 -.4 -4.3 -S.7 -4.2 5.3 -1.0 -1.4 2.0 -4.4 -24.6 -1.7 -5.4 -1.6 -1.1 -9.7 -5.0 5.9 0.4 0.9 -.2 -2.3 11.6 -4.7 -14.2 O.S -.3 4.2 -2.5 -12.7 -S.’S 26.5 -1.1 -4.6 11.6 1.5 21.1 -2.0 -31.1 -2.2 -.1 O.S S.O -31.5 -.7 Commercial banking U.S.-chartered banks Foreign banking oFF. in US Banks In U.S.-aFF. areas 2 3 4 5 Thrift' Institutions Savings Institutions Credit unions 6 7 6 60.6 Net change in assets Cl) Large time deposits are those issued In amounts of SI00,000 or more. BILLIONS OF OOLLARS. 9 11 12 13 14 15 DECEMBER 7, 1994 Other Deposits and Federal Funds Other Deposits and Federal Funds F.207-F.209 Other Deposits, Federal Funds and Security RPs 43 ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 70.3 28.6 10.2 16.1 11.9 M 3.6 41.2 8.7 5.2 15.8 6.9 1.0 3.6 3.9 -41.8 15.8 23.5 5.3 1.5 -.3 15.8 -10.2 -2.5 18.1 6.4 4.0 0.1 1 2 3 4 5 6 7 F.207 Money Market Mutual Fund Shares I Net change in assets 2 Household sector 3 Nonfin. corporate business 4 Funding corporations 5 Life insurance companies 6 Private pension funds 7 Bank personal trusts 32.7 31.5 0.6 0.1 1.1 -1.9 1.3 -40.4 -31.2 -7.9 1.5 -1.9 1.2 -2.2 54.2 43.3 4.9 0.1 2.2 1.0 2.6 10.2 2.3 -1.5 0.7 2.1 2.1 4.5 48.3 35.7 3.6 2.6 0.9 1.9 3.6 24.0 22.0 0.8 2.2 -3.1 1.8 0.2 21.9 15.9 -3.3 4.0 0.1 2.0 3.2 90.1 76.8 0.5 8.0 -.8 2.9 2.6 F.208 Federal Funds and Security Repurchase Agreements 1 Net change ln liabilities 2 Commercial banking (net) U.S.-chartered banks 3 Foreign banking off. ln US 4 5 Bank holding companies 6 Savings institutions REITs 7 8 Brokers and dealers (net) 9 Net change in assets 10 Nonfin. corporate business State and local governments 11 12 Rest of the world 13 Financial sectors 14 Monetary authority 15 Govt.-spons. enterprises 16 17 18 19 Savings institutions Credit unions Other insurance companies Money market mutual funds 20 Discrepancy-unallocated assets 32.0 9.2 9.2 -1.8 24.7 11.9 14.8 11.3 3.5 13.1 -15.9 35.5 1.6 1.9 -.3 16.9 17.1 26.5 31.3 26.8 4.5 -3.0 -1.8 48.1 19.2 10.8 8.4 17.1 11.8 -11.4 10.2 11.9 -1.7 28.1 -49.8 23.7 20.8 16.3 4.5 15.9 -13.1 77.8 37.9 35.6 2.3 * -46.2 86.1 -24.2 -25.6 -33.7 8.4 -.4 -15.3 16.8 -16.5 -19.3 -27.1 8.8 -.9 -22.9 25.7 35.5 18.2 17.4 0.7 0.2 -1.0 1.9 16.4 65.5 41.5 45.4 -4.3 0.4 7.5 2.1 14.3 1 2 3 4 5 6 7 8 30.7 8.7 2.4 1.6 17.9 2.1 5.4 25.5 6.2 15.4 0.7 3.2 -3.8 -2.3 38.8 0.5 11.9 0.1 26.4 8.3 33.7 7.0 8.2 0.8 17.7 3.2 6.0 35.6 9.5 5.5 3.4 17.2 10.8 2.5 12.4 0.8 20.7 2.2 -11.4 -14.7 -2.2 48.3 8.2 19.7 -.1 20.5 5.5 6.6 45.4 -4.1 1.9 4.1 43.4 -4.7 28.0 -.2 -5.9 -23.7 -.5 29.9 16.2 6.9 -22.7 -1.5 -14.9 0.1 -6.3 -2.5 -1.1 7.6 -6.5 11.9 6.7 -4.5 -7.8 -1.0 -15.6 -9.2 8.9 4.2 -19.4 5.1 -16.2 9 10 11 12 13 14 15 4.0 0.8 4.0 1.7 1.7 l.l 9.6 -3.2 3.8 0.3 4.2 9.7 -4.2 . 3.7 5.7 3.3 -4.8 2.5 0.1 6.1 -.9 -1.6 0.9 7.1 2.5 0.1 3.3 2.4 3.9 3.1 -.1 13.2 -2.5 2.1 3.2 4.1 -6.6 -1.4 -4.1 9.3 -.6 0.4 5.6 -l.l -3.9 -4.0 -.9 0.4 16 17 18 19 1.3 -13.6 -3.3 -7.2 12.6 -23.8 -24.6 32.4 -24.0 6.2 27.9 81.1 20 H F.209 U .S. Deposits in Foreign Countries 1 Total rest of the world liability, held by: Nonfin. corporate business Money market mutual funds 2 3 BILLIONS OF DOLLARS. 2.0 6.5 -1.9 7.1 27.6 8.6 23.0 35.7 38.2 -16.7 -7.2 -22.1 I -2.9 4.9 8.3 -1.8 -1.3 -.7 9.3 -2.2 24.5 3.1 9.1 -.6 14.9 8.1 39.0 -3.3 37.5 0.7 -11.3 -5.4 -6.0 -1.2 -11.7 -10.4 2 3 DECEMBER 7, 1994 Other Deposits and Federal Funds Other Deposits and Federal Funds F.207-F.209 Other Deposits, Federal Funds and Security RPs 44 SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES 1991 I IV 1 1992 I IV III II 1 I II IV III 1 I 1994 II III 67.8 13.7 5.7 35.3 11.6 1.5 0.1 50.3 Net change in assets Household sector 23.3 Nonfin. corporate business 1.3 Funding corporations 18.7 Life insurance companies 4.9 Private pension funds 2.0 Bank personal trusts 0.1 F,.207 Money Market Mutual Fund Shares 1 2 3 4 5 6 7 32.1 -9.6 4.7 25.8 5.4 3.5 2.4 34.0 -30.5 16.4 30.1 5.7 11.4 0.9 -10.0 -99.1 17.8 69.9 4.9 -2.5 -1.1 25.2 22.2 18.9 -17,3 5.0 -2.9 -.7 -33.4 -60.0 10.1 11.4 5.6 -.1 -.5 -46.8 -53.7 2.5 -3.8 6.0 2.4 N 61.8 54.5 -5.1 1.1 6.3 4.8 0.1 0.6 -37.4 -6.3 32.4 6.6 5.2 0.2 47.7 -4.2 -1.2 42.6 6.8 3.6 0.1 -10.9 -41.0 2.8 17.8 7.1 2.4 0.1 1 2 3 4 5 6 7 F.,208 Federal Funds and Security Repurchase Agreements 68.3 Net change in liabilities Commercial banking (net) -6.5 5.3 U.S.-chartered banks -12.0 Foreign banking off. in US Bank holding companies 0.2 Savings institutions 19.7 0.5 REITs 54.5 Brokers and dealers (net) 1 2 3 4 5 6 7 8 57.2 -.4 -1.4 4.2 54.3 18.1 31.4 4.4 Net change in assets 0.7 Nonfin. corporate business State and local governments -1.2 Rest of the world 15.7 -10.9 Financial sectors -13.2 Monetary authority 19.9 Govt.-spons. enterprises 9 10 11 12 13 14 15 -2.2 8.2 1.6 -9.2 -.9 -4.7 2.9 8.0 -4.7 1.6 3.3 -12.8 7.1 119.1 24.9 35.9 19.4 5.6 45.9 -10.0 I 2 3 4 5 6 7 8 19.3 21.8 14.0 6.1 1.7 -22.7 20.2 3.0 30.2 20.4 6.9 2.9 -15 = 5 1.6 -13.3 126.4 45.8 1.2 48.0 -3.4 7.9 1.9 70.9 81.2 -33.5 18.6 -53.0 0.9 -3.1 2.0 115.7 -68.7 30.4 29.4 0.7 0.4 6.7 2.0 -107.8 170.7 67.3 74.4 -8.9 1.8 10.7 2.1 90.6 37.9 30.3 31.3 -l.l 0.1 5.1 2.4 0.2 67.8 59.3 73.6 -16.2 1.9 7.8 2.3 -1.5 -14.4 9.2 2.3 8.9 -2.1 6.6 1.8 -32.0 12.8 78.5 68.3 8.5 1.8 10.0 1.3 -77.0 176.3 121.8 119.7 3.7 -1.6 22.6 1.0 30.9 9 10 11 12 13 14 15 -31.0 -4.6 6.6 -2.4 -30.5 23.4 -33.7 24.2 -1.0 0.7 10.8 13.7 -20.6 4.8 27.9 -7.5 24.7 9.3 1.5 -8.4 -5.3 55.9 -12.3 8.6 -2.7 62.3 84.6 17.2 -77.6 -5.0 13.5 9.6 -95.7 -86.8 -20.7 -8.9 -10.0 15.0 2. 1 -16.1 35.9 -37.1 -22.9 -9.5 -10.1 11.1 -14.3 32.7 -30.9 1.2 -9.9 7.2 5.7 -1.8 -17.7 -3.9 -31.7 -7.2 23.3 -2.2 -45.5 -30.4 6.9 5.7 -.9 -20.7 2.5 24.8 12.0 14.4 16 17 18 19 -23.5 1.0 -1.5 3.7 8.7 -4.1 3.3 21.9 -5.0 1.5 7.4 11.3 -6.2 0.9 7.8 -42.1 -.1 3.1 4.2 4.6 -.6 -11.7 0.9 -3.3 -7.5 1.1 -1.9 -7.8 -2.0 -1,8 -2,3 25.9 -5.2 -3.5 -.2 -13.2 20 50.3 -21.2 98.5 25.2 8.9 179.6 60.8 66.6 17.3 Savings institutions Credit unions Other insurance companies Money market mutual funds 16 17 18 19 63.8 Discrepancy-unallocated assets 20 F.209 U.S. Deposits in Foreign Countries -16.4 -36.2 -12.5 43.2 -23.2 -11.9 -17.1 -50.7 -6.9 -9.6 -31.0 -5.2 2.0 -14.5 24.4 18.9 -19.4 -3.8 -5.0 -6.9 -18.6 1.5 -25.6 -25.1 BILLIONS OF DOLLARS. 2.3 -10.9 5.0 Total rest of the world liability, held by: 8.0 Nonfin. corporate business -3.0 Money market mutual funds 1 2 3 DECEMBER 7, 1994 U.S. Government Securities 45 U.S. Government Securities F.210-F.211 Treasury Securities and Agency Securities ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 F.210 Treasury Securities 1 Net issues Savings bonds 2 Other Treasury issues 3 162.2 0.2 162.0 185.3 3.1 182.2 197.4 3.0 194.3 225.8 5.3 220.5 215.6 13.6 202.1 142.4 7.8 134.6 137.7 8.5 129.2 144.7 8.2 136.6 238.7 8.5 230.3 292.0 11.9 280.1 303.8 19.1 284.6 248.3 14.7 233.7 1 2 3 4 Net purchases Govt.-spons. enterprises 5 Monetary authority 6 7 Rest of the world 162.2 1.5 7.9 12.8 185.3 -.8 15.0 15.7 197.4 1.4 8.7 27.7 225.8 4.4 18.6 19.6 215.6 10.2 19.8 38.2 142.4 4.9 24.9 35.6 137.7 5.8 11.1 62.0 144.7 -13.3 -6.9 29.8 238.7 22.1 8.3 27.0 292.0 17.5 31.4 33.7 303.8 18.2 28.5 55.3 248.3 -1.5 37.0 73.6 4 5 6 7 140.0 155.6 159.6 183.2 147.4 77.0 58.8 135.1 181.3 209.5 201.8 139.2 8 9 10 11 12 13 14 15 Nonfinancial sectors Household sector Savings bonds Other Treas. issues Nonfarm noncorp. bus. Nonfin. corp, business State and local govts. 45.2 25.7 0.2 25.5 -.1 10.2 9.4 77.0 43.9 3.1 40.8 2.8 8.0 22.4 71.9 51.9 3.0 48.9 -.5 4.3 16.3 96.8 1.8 5.3 -3.4 0.3 -1.0 95.7 21.4 -20.2 13.6 -33.7 1.2 17.3 23.1 52.0 4.8 7.8 -3.0 -.4 3.7 43.9 95.1 68.9 8.5 60.5 0.5 -2.6 28.4 32.4 19.2 8.2 11.1 1.4 5.7 6.1 109.8 114.3 8.5 105.8 1.0 -7.9 2.4 -20.2 -42.8 11.9 -54.7 -.1 8.4 14.2 62.0 51.7 19.1 32.5 0.6 22.7 -12.9 62.3 45.5 14.7 30.9 1.4 -.8 16.2 9 10 11 12 13 14 15 16 17 18 19 20 Commercial banking U.S.-chartered banks Fgn. banking off. in US Bank holding companies Banks in U.S.-aff. areas 20.3 19.4 0.8 -.1 0.1 45.5 43.5 1.6 0.1 0.2 2.0 2.5 -.6 0.1 - 7.9 7.5 K 0.3 0.1 8.3 5.9 2.1 -.1 0.5 -3.3 -3.1 -.4 0.1 * -9.1 -9.4 0.1 -20.0 0.2 -.2 0.1 0.4 6.8 1.7 5.0 -.2 0.3 60.4 50.3 9.4 0.3 0.3 61.9 46.6 8.7 5.1 1.5 27.8 20.6 6.5 -.8 1.5 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 Nonbank financial sectors Savings Institutions Credit unions Life insurance companies Other insurance cos. Private pension funds St.Slocal govt.rtr.funds Mutual funds Closed-end funds Money mkt. mutual funds Brokers and dealers Bank personal trusts 74.5 3.4 0.3 8.4 0.6 22.6 9.3 2.3 33.0 15.3 1.4 12.1 3.3 16.3 12.0 0.6 78.5 -5.2 2.4 10.5 5.5 24.7 15.0 41.4 0.1 -.8 -16.2 1.1 117.7 3.5 1.8 7.3 13.8 22.3 19.9 36.4 0.4 3.4 8.1 0.7 28.3 9.6 3.2 -2.0 8.4 16.9 17.9 9.9 0.6 -13.7 -25.7 3.2 -27.1 -10.2 3.3 1.5 9.0 9.6 3.2 -17.7 3.2 -2.7 -30.7 4.5 122.7 -8.1 -2.3 -5.6 11.0 44.8 1.0 5.3 1.8 3.2 68.9 2.8 64.7 -.9 -3.6 6.2 8.0 12.0 17.6 4.1 30.7 -14.2 4.8 169.3 -.9 5.5 18.6 25.0 33.1 8.5 42.1 3.1 34.2 -1.6 1.7 77.9 9.0 5.9 11.0 4.7 17.5 4.5 39.2 2.0 0.1 -15.3 -.8 49.1 -5.7 2.4 21.2 15.8 14.9 15.9 25.9 2.9 0.8 -45.1 0.3 21 22 23 24 25 26 27 28 29 30 31 32 225.7 216.0 143.9 155.1 146.4 246.9 278.2 304.0 256.1 33 8 Total private domestic Memo: 33 U.S. govt, borrowing (1) (1) 21.1 6.2 0.3 -19.8 -9.7 1.6 85.7 7.8 0.8 12.6 5.9 14.5 19.0 5.8 -.1 2.6 12.6 4.2 161.3 185.2 197.2 K M M t20.3 N Total issues of Treasury securities (F.210, line 1) plus budget agency securities (F.211, line 2) and federal mortgage borrowing (F.216, line 7). F.211 Agency Securities (2) 20.6 79.9 137.2 17.4 44.9 74.9 151.1 1.6 25.2 124.3 175.6 8.2 17.1 150.3 132.0 -13.8 9.2 136.6 156.1 0.2 40.3 115.6 169.0 7.8 80.6 80.6 1 2 3 4 74.8 0.2 -.3 1.2 100.4 0.1 -.2 4.3 178.9 -.6 -.4 7.0 174.0 -.1 -.3 5.0 137.2 0.2 -.6 6.7 151.1 5.9 -.4 15.1 175.6 5.6 -.2 6.3 132.0 11.1 -.3 10.2 156.1 12.3 -.6 18.3 169.0 20.2 -.8 36.2 5 6 7 8 9 68.5 73.7 96.2 172.9 169.4 130.9 130.5 163.9 111.0 126.1 113.3 10 -10.3 -19.0 0.1 8.6 -.3 -5.3 33.1 13.1 -.1 20.2 -5.4 -16.1 -.1 10.8 22.3 42.5 -.1 -20.0 49.1 63.4 -.1 -14.3 61.2 46.3 0.4 14.5 41.5 12.7 0.8 28.0 19.4 7.9 1.6 9.9 38.0 49.2 2.0 -13.2 -46.3 -40.3 2.8 -8.8 11 12 13 14 -1.4 -2.9 0.5 1.0 37.6 36.5 1.5 -.4 29.4 27.9 1.2 0.3 - 30.8 29.3 1.1 0.4 55.2 54.2 0.3 0.3 0.4 54.3 52.8 1.9 -.5 0.1 50.9 46.3 4.0 0.5 0.1 42.8 38.9 2.9 -.2 l.l 44.7 36.2 7.4 0.9 0.2 15 16 17 18 19 117.6 43.6 N 7.0 0.1 3.8 7.6 N 11.9 36.2 4.9 2.4 51.0 19.9 -1.7 8.7 0.2 -1.0 -.6 -1.5 -8.6 27.2 4.9 3.4 14.2 -48.4 -.9 25.1 3.4 16.3 15.0 -.2 2.7 -6.1 4.9 2.2 68.1 -23.2 8.2 20.2 6.0 -1.4 9.5 3.2 15.9 6.7 19.6 3.5 40.7 -40.6 5.2 43.1 10.1 7.9 1.5 11.8 4.4 -13.9 10.0 1.2 45.3 -2.0 9.1 28.8 0.5 3.2 -.7 21.2 13.5 -26.4 -1.0 -.8 114.9 4.2 7.7 29.8 1.3 2.8 -3.8 15.9 13.2 16.5 25.9 0.9 20 21 22 23 24 25 26 27 28 29 30 31 67.8 5 Net purchases 6 U.S. government Govt.-spons. enterprises 7 Monetary authority 8 9 Rest of the world 63.7 -.1 -.2 -.4 67.8 -.4 -.3 64.3 Total private domestic 100.4 174.0 1.5 30.2 142.3 63.7 -.8 14.9 49.5 10 74.8 -.1 30.4 44.4 178.9 0.4 15.2 163.3 1 Net issues Budget agencies 2 3 Govt.-spons. enterprises Fed. related mortgage pools 4 M 1.4 66.4 M 11 12 13 14 Nonfinancial sectors Household sector Nonfin. corp, business State and local govts. 5.0 20.6 23.0 -.1 -2.3 15 16 17 18 19 Commercial banking U.S.-chartered banks Fgn. banking off. in US Bank holding companies Banks in U.S.-aff. areas 7.0 7.3 N -.3 - l.l 0.7 0.1 0.4 -l.l -1.2 -.1 0.2 20 21 22 23 24 25 26 27 28 29 30 31 Nonbank financial sectors Savings institutions Credit unions Life insurance companies Other insurance cos. Private pension funds St.Slocal govt.rtr.funds Mutual funds Money mkt. mutual funds ABS issuers Brokers and dealers Bank personal trusts 67.6 31.6 0.9 4.3 1.5 17.7 10.1 1.6 -.1 67.7 36.2 1.7 7.2 2.2 8.8 4.9 1.4 3.0 2.2 (2) N M - 54.1 16.8 -.4 11.0 3.2 6.3 4.1 0.5 3.6 7.9 1.2 64.5 0.5 l.l 12.5 8.2 11.9 -2.7 11.5 l.l 13.1 4.9 2.4 140.7 46.3 1.8 10.6 0.1 8.8 10.0 22.9 -3.0 37.5 4.9 0.8 Agency securities include: issues of federal budget agencies (line 2) such as TVA} issues of government-sponsored enterprises (line 3) such as FNMA and FHLB; and federally related mortgage-backed securities issued by GNMA, FNMA, FHLMC, and the Farmers Home Administration (line 4). Only the budget agency issues are considered officially to be part of the total borrowing of the U.S. government, which is shown in table F.210, line 33. BILLIONS OF DOLLARS. M DECEMBER 7, 1994 U.S. Government Securities U.S. Government Securities F.210-F.211 Treasury Securities and Agency Securities SEASONALLY ADJUSTED ANNUAL RATES 1991 I IV 1 SEASONALLY ADJUSTED ANNUAL RATES I II III 1993 I 1 1992 IV II I F. 210 III IV I 11 I 1994 II III Treasury Securities 1 2 3 271.5 11.0 260.5 342.4 15.6 326.9 347.0 13.4 333.6 285.5 19.9 265.7 240.0 27.8 212.3 237.4 25.4 211.9 332.3 11.6 320.7 157.2 10.2 146.9 266.5 11.3 255.1 211.8 12.3 199.5 118.2 8.5 109.6 129.8 Net issues 6.0 Savings bonds Other Treasury issues 123.8 1 2 3 4 5 6 7 271.5 -5.1 17.6 57.7 342,4 39.3 27.5 62.1 347.0 -12.0 21.0 85.7 285.5 24.4 16.9 18.1 240.0 20.8 48.7 55.4 237.4 -23.9 43.7 60.3 332.3 14.8 36.0 20.2 157.2 45.6 29.1 90.3 266.5 -42.3 39.2 123.4 211.8 9.3 50.4 41.8 118.2 13.8 19.1 -6.0 129.8 Net purchases 14.0 Govt.-spons. enterprises Monetary authority 24.5 83.6 Rest of the world 4 5 6 7 8 201.3 213.4 252.3 226.2 115.1 157.3 261.3 -7.9 146.2 110.3 91.3 7.6 9 10 11 12 13 14 15 -101.5 -149.6 11.0 -160.7 0.8 -.7 48.0 223.8 195.4 15.6 179.8 0.3 23.6 4.5 65.4 47.8 13.4 34.5 0.7 25.5 -8.6 -23.5 -12.5 19.9 -32.3 0.7 16.1 -27.9 -17.8 -24.1 27.8 -51.9 0.7 25.5 -19.8 47.0 16.0 25.4 -9.5 1.4 -5.8 35.4 156.2 123.2 11.6 111.6 1.4 -1.4 32.9 15.9 -9.7 10.2 -19.9 1.4 11.1 13.0 30.3 52.5 11.3 41.2 1.4 -7.1 -16.6 272.1 238.2 12.3 225.9 1.4 32.4 0.1 165.3 172.3 8.5 163.8 1.5 10.1 -18.6 149.2 198.7 6.0 192.8 1.5 -6.3 -44.7 Nonfinancial sectors Household sector Savings bonds Other Treas. issues Nonfarm noncorp. bus. Nonfin. corp, business State and local govts. 9 10 11 12 13 14 15 16 17 18 19 20 84.1 59.7 25.7 -2.0 0.7 60.6 56.6 -8.7 11.6 1.1 62.4 41.3 19.7 -.2 1.6 72.2 57.1 7.0 6.5 1.7 52.5 31.3 17.0 2.6 1.6 30.4 22.5 8.9 -2.6 1.6 6.5 3.7 -.6 1.5 1.8 15.6 14.1 1.0 -1.1 1.6 58.8 42.2 16.7 -1.1 1,0 57.6 42.8 12.4 2.0 0.3 -37.2 -34.4 1.4 -4.0 -.1 -82.7 -69.8 -8.8 -3.3 -.8 Commercial banking U.S.-chartered banks Fgn. banking off. in US Bank holding companies Banks in U.S.-aff. areas 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 218.7 3.9 15.8 25.6 19.7 65.6 -2.3 53.4 3.0 46.3 -12.9 0.7 -71.0 13.1 9.3 4.7 16.4 -25.4 -6.7 -14.4 2.3 14.1 -84.4 124.5 6.0 8.1 13.3 9.4 36.2 16.0 -4. 0 1.8 -.3 39.1 -1.2 177.5 0.1 5.7 11.1 -7.8 44.2 2.2 100.1 1.8 0.6 20.9 -1.4 80.4 16.9 0.4 15.0 0.9 15.1 6.4 74.9 2.2 -14.0 -36.8 -.6 79.9 -11.1 5.1 23.2 12.6 29.9 15.3 19.9 2.6 -13.4 -4.3 98.7 4.4 27.8 17.2 2.4 24.0 21.4 3.1 14.1 -16.2 0.5 -39.4 -3.8 -2.0 23.3 18.1 33.3 29.9 0.3 3.0 -2.2 -139.7 0.5 57.1 -8.1 2.1 10.5 15.2 -6.0 -5,4 61.9 2.4 4.7 -20.1 -219.4 4.4 4.3 -6.7 12.9 -36.8 14.8 -99.2 1.9 -45.1 -69.4 -.6 -36.8 0.7 1.7 23.0 11.3 -7.0 18.7 8.1 1.4 -20.8 -72.9 -1.0 -58.9 -5.5 -9.8 7.6 10.9 -4.8 14.2 -65.6 0.8 1.0 -6.6 -1.1 Nonbank financial sectors Savings institutions Credit unions Life insurance companies Other insurance cos. Private pension funds St.Slocal govt.rtr.funds Mutual funds Closed-end funds Money mkt. mutual funds Brokers and dealers Bank personal trusts 21 22 23 24 25 26 27 28 29 30 31 32 33 275.3 331.3 347.4 294.6 242.7 240.5 336.4 173.4 274.2 210.6 122.9 Memo: 134.1 U.S. govt, borrowing (1) X (1) X X Total private domestic 8 33 Total issues of Treasury securities (F.210, line 1) plus budget agency securities (F.211, line 2) and federal mortgage borrowing (F.216, line 7). F.211 Agency Securities (2) 1 2 3 4 155.4 3.8 32.6 118.9 119.2 -11.2 11.5 118.9 188.6 0.4 48.3 139.9 181.0 9.0 67.7 104.3 135.4 2.7 33.6 99.2 172.6 3.2 32.2 137.2 60.7 4.1 68.8 -12.2 303.6 16.2 167.8 119.5 139.0 7.7 53.4 77.9 338.6 -1.3 160.0 180.0 249.9 4.7 146.6 98.6 229.2 Net issues 4.3 Budget agencies 152. 1 Govt.-spons. enterprises 72.8 Fed. related mortgage pools 1 2 3 4 5 6 7 8 9 155.4 21.2 -.4 15.1 119.2 22.3 -.3 12.7 188.6 19.1 -1.0 26.7 181.0 -.6 -.7 5.8 135.4 8.4 -.5 27.9 172.6 -2.5 -1.2 7.3 60.7 10.8 -.4 35.8 303.6 24.3 -.9 39.0 139.0 48.2 -.7 62.7 338.6 33.5 -1.6 27.1 249.9 40.1 -1.2 21.6 229.2 Net purchases U.S. government 70.9 Govt.-spons. enterprises -.5 Monetary authority 20.6 Rest of the world 5 6 7 8 9 10 119.5 84.6 143.8 176.5 99.6 169.0 14.4 241.1 28.7 279.7 189.5 138.1 11 12 13 14 40.3 45.2 1.6 -6.5 0.1 32.8 2.0 -34.6 12.0 -7.1 2.0 17.0 63.8 79.6 2.0 -17.8 76.2 91.6 2.0 -17.4 2.7 -21.3 2.8 21.3 -163.1 -202.3 2.8 36.9 -56.0 -42.8 2.8 -16.0 31.0 105.8 2.8 -77.6 229.2 243.4 4.4 -18.5 186.3 249.9 5.2 -68.8 78.6 131.4 -52.8 15 16 17 18 19 72.5 60.9 8.6 2.6 0.4 40.6 40.0 2.3 -2.5 0.9 48.2 40.4 7.2 -.7 1.3 53.5 48.4 0.9 2.9 1.3 28.7 27.0 1.3 -.5 0.9 79.7 67.5 11.8 -.1 0.5 40.7 35-8 3.8 0.9 0.2 34.0 29.4 4.1 0.4 0.1 24.5 12.1 9.8 2.4 0.2 10.1 -5.5 14.4 1.0 0.2 14.5 14.0 -1.2 1.5 0.2 20 21 22 23 24 25 26 27 28 29 30 31 6.8 -21.4 2.5 61.3 7.4 -2.8 -28.3 12.2 1.5 -23.6 -2.5 0.4 43.8 -20.2 8.3 29.9 3.4 6.6 20.6 18.6 -6.3 -31.3 14.4 -.3 83.7 8.4 8.8 20.8 -.4 9.0 -19.5 27.7 17.2 -22.7 35.6 -1.3 59.2 -17.3 8.7 35.6 -1.4 12.2 15.8 27.5 27.5 -30.2 -17.8 -1.3 -5.3 21.0 10.4 29.0 0.3 -14.9 -19.6 11.0 15.7 -21.6 -36.3 -.4 86.6 -5.0 9.6 25.3 1.5 29.6 -26.6 11.4 -15.0 11.9 43.4 0.5 136.9 7.8 3.7 39.5 2.0 -4.8 -6.4 11.7 22.8 15.5 43.5 1.3 263.2 3.8 7.3 30.5 2.1 13.5 3.2 57.0 35.9 17.1 91.4 1.3 -26.8 10.2 10.1 23.8 1.7 -27.3 14.6 -16.4 8.9 21.5 -74.5 0.5 40.3 5.2 10.8 20.6 1.4 -9.4 7.9 -39.7 1.4 20.2 22.2 -.2 -11.3 4.7 2.5 -10.2 1.2 -10.3 9.8 -16.1 11.4 -34.3 30.8 -.9 (2) BILLIONS OF DOLLARS. Total private domestic 10 Nonfinancial sectors Household sector Nonfin. corp, business State and local govts. 11 12 13 14 -2.6 -.4 -3.1 0.6 0.2 Commercial banking U.S.-chartered banks Fgn. banking off. ln US Bank holding companies Banks in U.S.-aff. areas 15 16 17 18 19 62.1 41.2 -1.2 7.1 1 .1 -9.3 4.9 8.8 11.3 -20.8 20.1 -1.1 Nonbank financial sectors Savings institutions Credit unions Life insurance companies Other insurance cos. Private pension funds St.Slocal govt.rtr.funds Mutual funds Money mkt. mutual funds ABS issuers Brokers and dealers Bank personal trusts 20 21 22 23 24 25 26 27 28 29 30 31 Agency securities include: Issues of federal budget agencies (line 2) such as TVA; issues of government-sponsored enterprises (line 3) such as FNMA and FHLB; and federally related mortgage-backed securities issued by GNMA, FNMA, FHLMC, and the Farmers Home Administration (line 4). Only the budget agency issues are considered officially to be part of the total borrowing of the U.S. government, which is shown in table F.210, line 33. DECEMBER 7, 1994 Private Securities Private Securities F.212-F.215 Private Securities 47 ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 F.212 Tax-Exempt Debt Securities and Loans (1) 53.1 29.4 6.7 22.7 54.4 33.5 -1.5 35.0 58.7 28.0 -3.7 31.6 179.5 126.7 2.2 124.5 41.4 53.5 -.1 53.6 75.5 77.4 -1.7 79.1 46.3 44.8 2.4 42.4 69.8 68.3 4.2 64.1 48.7 45.1 3.7 41.4 68.7 62.2 5.9 56.3 31.1 16.5 -.5 17.0 78.1 66.3 5.2 61.1 1 2 3 4 8.5 15.1 11.4 9.4 10.2 20.5 30.2 22.6 -2.2 -9.9 -1.0 -.9 1.3 0.2 2.5 -.9 3.8 -.3 7.7 -1.2 14.6 w 11.9 -.1 5 6 7 Net change In assets Household sector 8 Nonfin. corporate business 9 State and local governments 10 Commercial banking 11 Savings institutions 12 53.1 29.6 0.1 0.2 4.5 -.3 54.4 34.7 0.7 0.6 3.7 -.2 58.7 27.6 -.1 1.1 12.5 -.3 179.5 72.2 0.8 -1.2 57.1 0.6 41.4 -15.8 3.1 -.2 -28.4 -.3 75.5 80.1 2.6 0.4 -29.1 * 46.3 39.7 1.5 1.5 -22.7 0.2 69.3 55.6 -.6 2.3 -17.8 -.2 48.7 17.7 -1.4 2.6 -16.4 0.4 68.7 34.9 1.6 1.4 -14.2 -.6 31.1 -34.8 0.6 -.6 -5.7 -.4 Insurance sector Life insurance companies Other insurance companies Private pension funds St.&loc. govt.rtr.funds Mutual funds Closed-end funds Money market mutual funds Brokers and dealers Bank personal trusts 4.3 1.9 3.0 0.6 -.7 2.9 8.0 1.6 1.6 -.5 0.9 -.3 ft -1.1 5.5 3.6 1.8 4.6 -3.3 -1.3 -1.9 0.4 -.5 5.6 7.0 4.5 4.1 4.7 1.0 3.5 0.6 -.4 14.5 1.0 12.4 8.9 8.4 17.3 2.0 13.7 2.1 -.4 31.8 1.1 27.5 -3.3 8.6 19.4 -1.0 22.3 -2.5 0.1 5.4 1.3 -2.3 -8.4 6.2 7.5 -1.5 9.3 ft -.3 8.0 4.2 4.2 -.8 2.8 0.7 -.1 0.7 0.3 -.3 14.9 4.6 3.7 -.4 7.1 5.6 3.3 2.2 ft 0.1 15.6 1.8 14.3 0.3 7.7 -12.2 -2.1 -10.2 0.2 -.2 28.0 13.0 6.2 1.6 9.2 9.0 1.1 7.5 0.1 0.2 36.3 13.8 5.0 1.9 6.1 1 Net change in liabilities State and local governments 2 Short-term 3 4 Other 5 6 13 14 15 16 17 IS 19 20 21 22 Household sector Nonfin. corporate business (industrial revenue bonds) 78.1 7 -16.0 8 2.2 9 -.5 10 1.7 11 0.1 12 15.4 3.4 11.8 0.1 0.2 44.6 3.4 8.6 5.8 12.9 13 14 15 16 17 18 19 20 21 22 (13 Includes small amounts of taxable securities issued since 1986. F.213 Corporate and Foreign 3onds 1 Net issues Nonfin. corporate business 2 Rest of the world (2) 3 4 Financial sectors Commercial banking 5 Funding corporations 6 Savings institutions 7 Finance companies 8 REITs 9 Brokers and dealers 10 ABS issuers 11 52.1 30.7 6.6 14.8 6.3 0.4 8.1 ft - 46.5 26.0 3.1 17.4 9.7 0.3 0.1 4.0 * 0.4 3.0 88.2 48.1 3.8 36.3 13.5 0.7 1.9 9.6 0.1 0.7 9.9 143.4 83.2 3.8 56.5 18.9 2.1 4.6 14.7 0.8 0.3 15.1 222.5 127.1 3.1 92.3 16.1 1.4 4.9 26.3 0.3 2.1 41.2 164.7 78.8 7.4 78.6 13.5 2.7 4.4 9.6 0.5 -.1 48.1 162.2 103.1 6.9 52.2 5.1 -1.1 1.9 5.9 0.2 4.3 35.9 120.2 73.8 4.9 41.5 4.7 -1.3 -3.4 15.6 0.2 6.3 19.4 114.7 47.1 21.4 46.3 -4.8 2.9 -5.6 15.5 0.1 1.5 36.6 160.5 78.8 14.1 67.6 4.2 6.9 -4.1 13.0 0.1 3.7 43.7 160.4 67.5 14.4 78.5 14.5 11.7 -3.2 4.0 1.0 2.7 47.7 252.9 1 75.2 2 59.4 3 118.3 4 7.2 5 13.6 6 -1.5 7 9.7 8 0.4 9 12.0 10 76.9 11 12 Net purchases Household sector 13 Rest of the world (3) 14 Commercial banking 15 Savings institutions 16 52.1 -.8 15.7 0.7 5.3 46.5 2.5 7.1 5.2 11.7 38.2 -6.0 15.6 5.6 11.4 143.4 -.8 36.3 9.2 3.1 222.5 33.9 39.1 22.2 8.2 164.7 18.3 18.8 24.fi 8.5 162.2 -21.8 15.9 10.9 13.0 120.2 -17.2 13.0 4.3 -13.0 114.7 38.0 5.3 4.6 -19.3 160.5 10.3 16.2 7.6 -2.9 160.4 -4.8 18.1 -1.6 7.3 252.9 26.2 30.0 3.5 9.1 12 13 14 15 16 17 18 19 20 21 22 23 24 25 29.4 16.2 -.5 11.9 1.8 0.2 0.4 2.5 -1.4 15.7 16.7 -4.2 12.7 -9.6 2.7 -.2 2.0 -.3 53.0 23.7 4.1 15.5 9.6 3.6 -.4 5.7 -.2 82.4 37.3 8.2 31.7 4.8 3.6 0.3 9.2 0.1 85.6 40.8 14.1 23.2 7.5 26.8 1.4 0.3 4.9 34.3 66.9 7.5 11.8 -1.4 7.3 2.1 -4.4 4.5 110.4 69.2 10.1 13.3 17.2 14.2 10.4 9.8 -.5 121.0 53.6 13.6 22.2 31.6 5.7 0.1 3.7 2.5 77.8 55.8 9.9 9.3 2.8 13.6 -1.6 -4.0 0.2 102.5 28.2 8.0 40.2 26.1 12.8 -1.4 12.0 3.4 103.7 58.9 0.7 16.4 27.8 19.8 1.6 10.0 6.2 102.9 65.5 5.3 17.4 14.8 56.1 4.0 22.2 -1.1 17 18 19 20 21 22 23 24 25 Insurance sector Life insurance companies Other insurance companies Private pension funds St.&loc. govt. rtr. funds Mutuai funds Closed-end funds Brokers and dealers Bank personal trusts F.214 Mutual Fund Shares 1 Net issues 9.4 29.3 27.3 88.7 160.9 70.2 6.1 37.2 65.3 151.5 211.9 316.8 1 2 Net purchases Household sector 3 Nonfin. corp, business 4 Commercial banking 5 6 Credit unions 7 Life insurance companies 8 Private pension funds 9 Bank personal trusts 9.4 3.4 1.1 1.0 2.9 1.0 29.3 26.9 1.2 -.4 0.4 1.1 27.3 20.2 2.8 0.5 1.1 2.6 88.7 75.5 3.7 1.1 2.0 6.4 160.9 120.0 3.8 10.2 2.3 24.6 70.2 56.9 -2.7 ft -2.2 16.5 1.7 6.1 14.1 -2.7 -.4 5.7 1.7 -12.3 37.2 36.0 -1.6 -.1 -.1 -4.1 6.8 0.4 65.3 37.7 -1.3 -.3 0.2 12.6 6.7 9.7 151.5 115.1 2.7 1.8 1.2 3.5 8.6 13.5 211.9 146.5 4.7 -.4 1.5 18.7 15.2 25.8 316.8 186.9 6.8 0.5 0.1 34.8 42.8 44.9 2 3 4 5 6 7 3 9 F.215 Corporate Equities (4) 1 Net issues 2 Nonfin. corporate business 3 Rest of the world (2) Financial sectors 4 Commercial banking 5 Other insurance companies 6 Closed-end funds 7 a REITs 9 Brokers and dealers 10 Net purchases 11 Household sector 12 Rest of the world (3) 13 Commercial banking 14 Savings institutions 15 16 17 18 19 20 21 22 23 Insurance sector Life insurance companies Other insurance companies Private pension funds St.&loc. govt. rtr. fnds Mutual funds Closed-end funds Brokers and dealers Bank personal trusts 7.6 1.9 1.4 4.3 0.6 2.8 -.2 0.4 0.7 26.7 20.0 3.7 3.0 0.8 1.5 -.8 0.6 1.0 -72.6 -79.0 0.9 5.5 1.1 3.9 -1.0 0.3 1.1 -65.0 -84.5 3.7 15.8 1.4 7.8 1.0 3.2 2.5 -65.9 -85.0 1.2 18.0 1.4 6.8 5.8 1.8 2.2 -57.2 -75.5 -2.1 20.4 1.5 4.0 7.3 1.4 6.3 -102.8 -129.5 0.9 25.8 2.5 1.7 20.6 2.2 -1.2 -98. 0 -124.2 17.2 9.0 1.5 2.4 6.3 1 .8 -3.0 -45.6 -63.0 7.4 10.0 2.1 2.8 0.4 1.3 3.4 64.0 18.3 30.7 15.1 0.9 1.9 16.3 1.6 -5.7 84.1 27.0 30.7 26.4 4.3 5.5 16.9 2.0 -2.3 120.1 21.3 60.6 38.2 1.9 7.4 14.3 12.9 1.7 1 2 3 4 5 6 7 8 9 7.6 -24.1 3.7 -72.6 -66.8 -3.4 -.1 -.2 -65.0 -111.2 4.4 0.1 -.1 -65.9 -103.9 17.9 2.1 -57.2 -102.6 15.0 -.1 1.4 -102.8 -92.6 -2.9 -.5 26.7 -22.6 5.0 it 0.3 2.0 -98.0 -109.1 9.0 -.1 0.4 -45.6 -21.7 -16.0 -2.5 -2.5 64.0 -33.8 10.4 2.3 -l.l 84.1 43.8 -5.8 0.3 0.3 120.1 -28.5 20.5 2.1 1.7 10 11 12 13 14 33.0 2.4 2.7 21.9 6.0 3.5 -.7 0.9 -8.2 32.6 3.4 2.1 7.1 20,0 13.7 -.6 4.3 -5.9 -1.6 0.3 -4.3 -4.8 7.3 5.9 -.5 -1.0 -4.9 42. 0 4.8 -2.0 10.6 28.6 10.3 -.4 2.6 -12.8 25.3 -2.1 -.3 3.6 24.0 20.2 2.9 1.4 -31.7 10.6 5.7 2.7 -29.6 31.8 26.9 3.3 -7.1 -4.8 9.0 -3.4 3.6 -12.2 21.0 -16.0 2.8 0.1 -5.2 7.9 9.7 7.9 -12.5 2.9 1.2 -.3 -1.9 -5.2 -14.7 -5.7 -7.0 -14.4 12.3 14.4 0.2 -3.3 0.5 46.2 9.5 -1.2 7.0 30.9 44.6 1.6 2.4 -8.6 16.4 2.7 -.4 -2.6 16.7 67.2 -.5 -.6 -37.0 38.5 7.9 0.8 -18.1 43.0 128.8 4.1 8.0 -55.2 15 16 17 18 19 20 21 22 23 « (2) Net purchases of foreign issues by U.S. residents. (3) Net purchases of U.S. issues by foreign residents. (43 Excludes mutual fund shares shown above. BILLIONS OF DOLLARS m « DECEMBER 7, 1994 Private Securities Private Securities F.212-F.215 Private Securities 48 SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES 1991 IV 1 1 1992 I II III IV 1 1 1993 I II 1 1 IV III I 1994 II III F.212 Tax-Exempt: Debt Securities; and Loans (1) 1 2 3 4 81.8 78.4 1.3 77.1 42.5 35.0 0.2 34.8 52.1 34.7 -7.0 41.6 45.6 34.3 20.2 14.1 -15.8 -37.9 -15.4 -22.5 88.7 85.5 4.7 80.8 130.3 113.8 14.7 99.1 66.2 48.0 -2.6 50.6 27.4 17.9 3.9 14.0 22.6 10.8 -.3 11.1 -9.8 -26.8 -9.4 -17.4 5 6 8.6 -5.2 10.7 -3.2 18.8 -1.4 12.3 -1.0 16.7 5.4 7.4 -4.3 17.1 -.6 16.9 1.3 6.3 3.3 16.3 -4.4 16.9 0.2 7 8 9 10 11 12 81.8 33.2 1.8 0.9 -9.6 -.2 42.5 5.1 -5.6 -1.7 -10.0 -.6 52.1 -24.7 6.1 -.8 -7.5 0.1 45.6 -20.5 -2.3 -.2 0.4 0.1 -15.8 -98.9 4.3 0.2 -5.8 -l.l 88.7 22.6 -1.9 130.3 15.4 3.9 -1.4 3.1 -.2 66.2 -45.9 6.2 0.7 10.1 -.1 27.4 -56.0 0.4 -1.1 22.6 -26.7 -4.2 -1.7 1.8 -9.8 -20.9 -1.4 -2.7 -1.4 0.3 13 14 15 16 17 18 19 20 21 22 -12.9 -6.7 -5.4 0.2 -1.0 33.3 13.1 10.0 4.1 8.3 1.2 -.4 1.7 -.1 -.1 29.5 16.3 7.9 -6.3 6.6 8.6 0.6 7.9 0.2 13.6 1.8 10.6 0.3 0.8 39.9 13.3 -.6 -3.0 5.1 12.7 2.5 10.0 -.1 0.2 38.0 11.1 8.0 7.8 8.0 11.4 0.5 10.5 0.2 0.3 49.9 6.4 1.7 -5.6 10.7 17.0 4.2 12.1 17.8 5.4 12.6 0.3 -.5 47.0 0.5 16.2 -.5 14.1 15.5 3.3 11.9 -.1 0.4 31.5 2.6 8.9 11.7 13.6 X 37.6 14.4 4.6 9.0 4.6 X -6.6 0.2 (1) X 0.7 50.0 4.2 7.5 17.8 13.1 x X 0.3 14.5 3.2 11.5 -.1 x 8.5 3.6 28.2 -16.2 14.8 4.5 -2.6 7.1 -.1 X -2.6 0.3 4.4 -2.3 12.0 -41.2 Net change in liabilities -47.7 State and local governments -12.7 Short-term -35.0 Other 10.3 -3.8 Household sector Nonfin. corporate business (Industrial revenue bonds) -41.2 Net change in assets Household sector -48.3 -4.0 Nonfin. corporate business -3.6 State and local governments -2.5 Commercial banking X Savings institutions 1.9 -1.3 3.3 -.1 X 0.9 0.2 4.6 -.4 10.0 Insurance sector Life insurance companies Other insurance companies Private pension funds St.Sloc. govt .rtr.funds Mutual *unds Closed-end funds Money market mutual funds Brokers and dealers Bank personal trusts 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 Includes small amounts of taxable securities issued since 1986. F.213 Corporate and Foreign Bonds 1 2 3 4 5 6 7 8 9 10 11 168.9 60.2 18.5 90.2 10.6 9.7 -.8 25.0 0.7 3.2 41.9 129.2 76.5 1.0 51.8 12.1 12.7 -5.9 -5.8 0.6 2.9 35.1 177.0 77.8 18.7 80.5 6.9 2.2 -2.3 8.3 0.6 13.5 51.3 158.3 61.7 12.1 84.5 19.0 15.1 -2.6 -1.8 0.5 -1.6 55.9 177.0 54.0 26.0 97.0 20.0 16.6 -1.7 15.4 2.3 -4.0 48.5 251.2 85.7 66.5 99.0 14.9 30.7 -1.9 4.1 0.4 -9.5 60.2 213.4 75.7 45.3 92.4 7.9 6.1 -2.6 10.3 0.5 13.7 56.6 299.9 72.0 84.5 143.4 3.4 13.3 -.6 17.5 -.1 14.6 95.4 247.1 67.4 41.4 138.3 2.8 4.4 -1.0 7.0 0.7 29.3 95.3 212.6 35.1 29.0 148.6 -1.3 47.7 -.4 23.0 0.8 -9.9 88.8 109.8 38.9 11.1 59.9 2.2 14.5 -1.3 31.4 1.1 0.3 11.6 12 13 14 15 16 168.9 -3.0 15.4 12.5 6.9 129.2 0.6 13.2 -7.3 -3.4 177.0 -29.0 26.0 -5.6 -7.6 158.3 -37.3 24.2 12.9 12.3 177.0 46.6 9.1 -6.3 28.0 251.2 1.5 18.9 15.1 6.7 213.4 15.7 28.7 -3.3 6.5 299.9 -5.8 27.1 5.5 18.9 247.1 93.4 45.2 -3.4 4.3 212.6 78.5 31.5 -3.7 33.0 109.8 67.0 48.4 5.8 -3.2 17 18 19 20 21 22 23 24 25 97.2 -5.1 5.2 55.8 41.2 23.4 -1.3 13.6 4.4 62.8 46.8 2.7 -13.5 27.0 39.4 2.9 15.3 5.7 120.6 57.2 -.6 34.5 29.5 53.8 -.4 11.6 7.7 130.9 58.9 -1.0 46.2 26.8 -34.4 0.1 42.4 7.2 100.5 72.6 1.6 -1.5 27.8 20.4 4.0 -29.3 4.1 124.3 77.1 4.0 43.9 -.8 39.9 7.7 36.0 1.2 88. 0 44.3 6.2 10.8 26.8 71.4 3.2 4.6 -1.4 133.3 76.2 6.3 44.0 6.7 78.0 2.5 43.0 -2.4 66.1 64.6 4.5 -29.3 26.3 35.3 2.8 5.2 -1.8 45.5 59.6 3.1 -38.9 21.8 10.5 3.2 15.8 -1.6 34.9 17.6 2.0 -5.3 20.6 -4.8 2.0 -38.2 -1.9 96.5 Net issues 24.6 Nonfin. corporate business 6.6 Rest of the world (2) 65.3 Financial sectors 5.4 Commercial banking 26.7 Funding corporations Savings institutions -1.1 34.6 Finance companies 1.4 REITs -7.6 Brokers and dealers 5.9 ABS issuers 96.5 Net purchases 9.5 Household sector 39.2 Rest of the world (3) 9.2 Commercial banking -15.6 Savings institutions 47.8 32.0 1.4 -6.9 21.2 11.8 0.4 -3.8 -2.0 Insurance sector Life Insurance companies Other insurance companies Private pension funds St.Sloc. govt. rtr. funds Mutual funds Closed-end funds Brokers and dealers Bank personal trusts 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 F.214 Mutual Fund Shares 1 192.7 198.3 200.4 243.4 205.4 268.9 358.0 348.9 291.5 114.0 152.7 131.2 Net issues 1 2 192.7 198.3 200.4 243.4 205.4 268.9 358.0 348.9 291.5 114. 0 152.7 131.2 Net purchases 2 3 4 5 6 7 8 9 142.5 2.1 1.0 1.3 5.9 22.2 17.8 135.4 8.7 2.9 2.3 14.1 14.3 20.8 127.4 3.0 -1.9 2.3 25.6 21.1 23.0 183.1 3.8 1.5 0.7 17.4 10.1 26.9 140.0 3.2 -4.0 0.7 17.8 15.2 32.5 158.7 5.7 1.5 1.0 29.9 33.9 38.3 203.5 8.9 -1.5 1.2 45.8 56.2 44.1 214.9 6.1 1.5 -.8 34.9 44.4 47.8 170.3 6.3 0.6 -.8 28.8 36.7 49.6 89.9 0.2 -3.6 -16.4 5.5 15.7 22.6 99.0 1.5 -2.6 X 11.9 20.3 22.7 90.9 -3.1 -1.2 15.1 19.5 10.0 Household sector Nonfin. corp, business Commercial banking Credit unions Life insurance companies Private pension funds 3ank personal trusts 3 4 5 6 7 8 9 F.215 Corporate> Equities (4) 69.7 12.0 34.8 22.9 2.9 6.0 12.4 1.4 0.2 89.4 22.3 1.2 -1.8 74.0 36.0 11.1 26.9 4.6 5.3 17.6 -.1 -.6 14.0 47.8 27.7 7.7 6.3 15.3 5.4 -7.1 75.0 8.2 31.6 35.2 2.5 7.1 20.0 10.1 -4.5 113.9 23.2 52.1 38.6 1.5 8.4 13.1 15.5 0.1 149.1 32.3 78.6 38.2 0.1 8.1 10.1 15.6 4.3 142.4 21.5 80.0 40.9 3.4 6.2 14.0 10.5 6.8 100.5 -9.6 69.4 40.7 2.4 4.4 18.7 13.3 1.9 65.8 -2.0 38.9 29.0 4.5 2.7 4.4 13.1 4.2 103.2 0.5 -13.3 -.4 * 74.0 74.2 -11.3 -.1 1.2 69.7 88.6 -16.3 -1.1 -.2 89.4 11.8 17.7 3.0 0.4 75.0 2.2 19.6 1.0 2.0 113.9 -17.9 -.4 0.6 2.5 149.1 5.4 15.6 1.3 4.5 142.4 -103.8 47.4 5.6 -2.2 100.5 -94.4 22.1 -2.0 -1.8 65.8 -13.2 -14.0 1.2 -2.4 83.9 22.4 -.7 19.9 42.3 -13.4 -8.5 -.6 -27.9 23.6 54.7 1.8 2.2 -35.3 -14.7 2.1 -.3 -3.5 -13.0 61.7 -2.7 -4.3 -41.1 9.8 -5.2 1.3 13.7 84.8 -1.9 8.4 -44.5 -.2 7.0 0.4 -30.1 22.5 96.4 3.3 2.6 -52.0 36.6 -14.6 0.9 8.5 41.9 139.6 2.6 13.9 -63.8 22.8 18.2 1.0 -35.0 38.6 149.5 4.1 7.0 -61.1 94.7 20.9 0.8 -15.8 88.8 129.8 6.3 8.6 -44.0 28.2 27.1 5.3 -30.5 26.2 165.6 10.0 -7.6 -19.6 23.0 26.9 4.9 -42.7 33.9 122.9 0.8 -5.6 -46.8 1 2 3 4 5 6 7 8 9 89.3 48.0 23.7 17.6 2.5 3.0 16.0 1.7 -5.5 103.2 10 89.3 -34.7 -1.7 11 12 13 14 15 16 17 18 19 20 21 22 23 X 1.1 84.4 42.2 -.6 0.9 41.9 57.3 1.2 -.2 -18.2 46.0 29.1 28.1 2.2 4.2 67.6 0.8 -8,8 -27.0 BILLIONS OF DOLLARS -13.8 Net issues -50.0 Nonfin. corporate business 14.6 Rest of the world (2) 21.6 Financial sectors 4.7 Commercial banking 2.2 Other insurance companies 3.4 Closed-end funds 9.5 REITs 1.3 Brokers and dealers -13.8 Net purchases -156.5 Household sector 10.6 Rest of the world (3) 0.5 Commercial banking -.7 Savings institutions 15.1 20.9 4.8 -29.7 19.2 127.0 2.0 -1.3 -10.0 Insurance sector Life insurance companies Other insurance companies Private pension funds St.Sloc. govt. rtr. fnds Mutual funds Closed-end funds Brokers and dealers Bank personal trusts (2) Net purchases of foreign issues by U.S. residents. (3) Net purchases of U.S. issues by foreign residents. (4) Excludes mutual fund shares shown above. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 DECEMBER 7, 1994 Mortgages Mortgages F.216-F.217 Mortgage Markets 49 ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 F.216 Total Mortgages 1 Net change in mortgages Home 2 Multifamily 3 Commercial 4 5 Farm 92.7 56.5 5.4 26.8 4.1 187.7 117.6 15.2 52.5 2.4 222.7 136.2 25.1 62.6 -1.2 261.7 172.3 30.3 65.7 -6.6 305.8 204.2 36.5 75.3 -10.1 336.0 241.6 24.9 76.4 -6.9 300.2 234.9 17.6 52.4 -4.8 231.6 224.5 11.6 48.0 -2.5 200.1 185.6 5.0 9.8 -.3 161.9 163.8 -3.0 0.7 0.4 124.5 179.5 -11.0 -45.2 1.1 159.2 183.9 -4.9 -20.1 0.5 1 2 3 4 5 6 Net borrowing 7 U.S. government REITs 8 92.7 -.1 0.1 187.7 -.1 X 222.7 -.1 0.4 261.7 -.1 0.1 305.8 336.0 X X 300.2 281.6 200.1 159.2 0.3 0.3 0.3 0.6 161.9 0.5 124.5 0.3 0.6 3.6 6 7 8 92.8 49.0 43.8 4.1 75.8 -36.1 187.7 121.2 66.5 2.4 63.4 0.8 222.4 135.0 87,4 -1.2 83.8 4.8 261.7 167.3 94.4 -6.6 109.1 -8.0 305.6 204.6 101.0 -10.1 78.3 32.8 335.7 244.3 91.4 -6.9 60.7 37.6 299.9 237.4 62.5 -4.8 45.7 21.5 281.2 236.7 44.5 -2.5 33.4 13.6 199.5 194.3 5.1 -.3 9.2 -3.8 161.4 171.6 -10.1 0.4 -10.8 0.2 123.9 186.8 -62.9 1.1 -36.5 -27.5 155.6 195.7 -40.1 0.5 -25.3 -15.2 9 10 II 12 13 14 92.7 10.3 4.6 5.2 187.7 -.4 4.3 7.9 222.7 -.3 10.0 10.2 261.7 16.9 4.7 9.8 305.3 -4.2 2.7 11.8 336.0 27.2 -5.6 8.7 300.2 15.2 2.3 3.7 231.6 -.2 -2.2 6.3 200.1 -17.2 -2.7 5.3 161.9 -15.1 -3.6 3.8 124.5 4.1 -1.7 159.2 10.5 -4.7 -5.4 15 16 17 13 9 10 11 12 13 14 Private nonfinancial sectors Household sector Nonfinancial business Farm Nonfarm noncorporate Corporate 15 Net change in assets Household sector 16 Nonfarm noncorp. business 17 State and local governments 18 X X X X X X 19 20 21 U.S. government Govt.-spons. enterprises (1) Fed. related mortgage pools 2.4 14.1 49.5 1.2 10.4 66.4 0.5 11.9 44.4 1.8 9.6 79.9 0.5 -11.3 163.3 -5.3 -7.5 142.3 -1.1 5.0 74.9 -.8 6.0 124.3 35.6 5.7 150.3 15.4 11.7 136.6 -11.9 32.1 115.6 -15.4 19 46.7 20 80.6 21 22 23 24 25 26 Private finan. institutions Commercial banking Thrift institutions Savings institutions Credit unions 6.6 16.0 -24.5 -24.3 -.2 97.8 29.2 53.7 50.9 2.8 145.9 44.6 86.9 84.7 2.2 139.0 49.7 58.7 55.5 3.2 143.1 70.1 26.1 19.2 6.9 176.2 86.2 65.6 55.0 10.5 200.2 77.8 77.0 68.8 8.2 148.1 94.3 -14.0 -20.8 6.8 23.1 78.6 -91.1 -96.0 4.9 13.1 31.9 -70.6 -73.7 3.1 -13.6 19.3 -76.4 -77.4 1.0 47.0 47.2 -27.5 -29.6 2.2 22 23 24 25 26 10.9 4.2 0.3 5.1 1.3 11.4 9.0 0.7 0.8 0.9 6.8 5.7 0.4 0.1 0.6 18.3 15.1 0.7 2.5 0.1 26.3 22.0 1.0 3.0 0.3 16.9 18.5 0.6 -2.0 -.2 25.6 20.5 0.6 4.2 0.3 29.3 21.4 0.9 7.4 -.3 13.5 13.6 0.4 -1.3 0.8 6.3 -2.6 -.4 8.4 0.8 -19.5 -18.6 -.6 3.0 -3.3 -17.1 -17.6 -1.4 3.8 -1.9 27 28 29 30 31 1.9 2.2 1.8 0.9 0.1 0.7 3.3 2.1 0.8 2.0 -.5 4.8 3.2 2.4 2.0 5.6 11.8 8.0 -12.7 1.0 11.9 -.8 5.1 5.2 0.9 8.7 6.5 20.1 0.5 11.0 0.4 11.7 -.7 10.9 0.1 0.3 11.2 -.7 34.9 -.1 2.7 0.1 1.1 59.3 -.2 27 28 29 30 31 Insurance sector Life insurance companies Other insurance cos. Private pension funds St.Sloc. govt, rtr.funds 32 33 34 35 36 Finance companies Mortgage companies REITs ABS issuers Bank personal trusts X 0.2 X X 3.6 -.5 X X -.5 32 X 33 0.6 34 44.7 35 -.3 36 (1) FHLB loans to members are included in "other loans" category. F.217 Home Mortgages (2) 1 Net borrowing Household sector 2 Nonfarm noncorp. business 3 4 Nonfin. corporate business 56.5 46.0 10.1 0.4 117.6 108.1 9.0 0.5 136.2 128.1 7.6 0.6 172.3 161.3 10.3 0.7 204.2 196.5 6.9 0.7 241.6 234.2 6.7 0.7 234.9 227.9 6.4 0.7 224.5 217.6 6.2 0.7 185.6 179.0 6.0 0.6 163.8 159.2 4.2 0.4 179.5 174.4 4.6 0.5 183.9 178.2 5.1 0.6 1 2 3 4 5 Net change in assets 6 Household sector Nonfarm noncorp. business 7 8 State and local governments 56.5 13.9 2.0 3.0 117.6 -4.5 1.6 5.2 136.2 3.2 3.3 5.4 172.3 15.3 0.6 5.9 204.2 -9.2 2.2 3.9 241.6 12.3 -1.1 1.2 234.9 34.8 2.1 2.5 224.5 7.5 4.7 185.6 -27.2 -.2 3.6 163.8 -19.2 -.3 2.0 179.5 4.9 0.7 -.6 183.9 8.3 -.5 -6.0 5 6 7 8 1.5 10.3 49.3 2.7 0.7 9.4 65.2 8.7 0.6 10.7 43.4 12.9 0.9 12.2 78.6 17.3 -.7 -5.0 158.3 20.0 -3.3 -2.5 137.3 37.4 0.3 5.8 69.7 38.0 0.2 5.3 118.7 51.0 16.6 5.3 148.1 66.5 -.9 10.9 140.0 27.6 -2.0 30.5 117.8 25.2 -7.2 9 45.2 10 82.0 ll 49.9 12 -30.9 -30.7 -.2 30.0 27.2 2.8 50.9 48.7 2.2 33.7 30.5 3.2 13.5 6.6 6.9 55.5 44.9 10.5 66.0 57.8 8.2 -2.2 -9.0 6.8 -51.5 -56.4 4.9 -36.1 -39.2 3.1 -47.7 -48.7 I .0 -17.5 13 -19.7 14 2.2 15 X 9 10 11 12 U.S. government Govt.-spons. enterprises Fed. related mortgage pools Commercial banking 13 14 15 Thrift institutions Savings institutions Credit unions 16 17 18 19 Insurance sector Life insurance companies Private pension funds St.aioc. govt. rtr. funds 0.5 -.5 0.9 0.1 -1.9 -1.4 -.5 -.4 -1.2 0.9 -.1 -1.6 -1.7 0.2 -.1 1.3 0.4 1.4 -.6 -2.4 0.4 -3.0 0.3 -1.4 -2.1 0.7 -.1 3.7 1.1 2.5 3.5 0.8 2.7 0.1 -2.3 -1.5 -1.1 0.2 0.1 -.1 0.5 -.3 20 21 22 23 24 Finance companies Mortgage companies REITs ABS issuers Bank personal trusts 1.9 2.2 1.8 0,9 3.3 1.4 4.8 2.8 0.1 2.0 5.6 11.0 8.0 -11.8 5.1 5.0 6.5 20.2 11.7 -.9 8.5 0.4 10.0 0.1 0.3 11.3 -.1 30.7 -.1 2.7 -.4 0.5 48.0 -.2 X 0.2 (2) Mortgages on 1-4 family structures. BILLIONS OF DOLLARS X X 0.7 X 2.0 -.5 X X 3.6 -.5 X 11.2 -.8 X 7.1 X X X X -1.1 -2.0 0.8 0.1 16 17 18 19 -.5 20 -.5 21 X 22 32.0 23 -.3 24 DECEMBER 7, Mortgages 1994 Mortgages F.216-F.217 Mortgage Markets 50 SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES 1991 IV 1 i j 1 1992 I II III IV 1993 I II III IV 1 t I 1994 II III F.216 Total Mortgages 1 2 3 4 5 181.5 206.5 2.1 •28.0 0.9 196.7 233.2 10.5 -46.3 -.6 52.6 92.6 -16.9 -25.8 2.7 161.2 227.4 -11.3 -57.7 2.8 67.4 164.9 -26.2 -50.6 -.5 101.2 120.9 -5.1 -14.8 0.2 153.5 193.5 -11.0 -30.0 1.0 228.3 236.5 -2.9 -5.8 0.4 154.0 184.5 -.8 -30.0 0.2 151.8 180.2 -6.0 -23.3 0.8 162.7 144.9 4.5 7.4 6.0 219.6 Net change In mortgages Home 199.6 Multifamily 7.2 Commercial 9.0 Farm 3.7 1 2 3 4 5 6 7 8 181.5 0.9 196.7 0.9 52.6 N 0.1 161.2 0.4 87.4 0.9 101.2 1.4 153.5 1.4 228.3 X 6.2 154.0 * 5.5 151.8 K 0.2 162.7 X 0.6 219.6 Net borrowing X U.S. government 0.1 REITs 6 7 8 9 10 11 12 13 14 180.6 225.0 -44.4 0.9 -28.2 -17.1 195.9 240.2 -44.3 -.6 -18.7 -25.0 52.5 96.3 -43.8 2.7 -29.5 -17.0 160.7 247.9 -87.2 2.8 -48.3 -41.7 86.6 162.9 -76.4 -.5 -49.6 -26.3 99.8 125.7 -25.9 0.2 -20.4 -5.7 152.2 218.7 -66.5 1.0 -37.2 -30.4 222.1 243.5 -21.4 0.4 -18.0 -3.8 148.5 194.9 -46.4 0.2 -25.6 -21.1 151.5 174.6 -23.0 0.8 -15.2 -8.6 162.2 151.9 10.3 6.0 4.6 -.3 219.4 203.0 16.4 3.7 7.1 5.6 15 16 17 18 181.5 8.1 -3.9 2.2 196.7 20.0 -1.6 0.2 52.6 6.2 -1.6 2.0 161.2 -17.0 -1.7 -1.2 87.4 7.3 -2.0 -1.2 101.2 18.5 -4.4 0.3 153.5 15.8 -4.6 -10.7 228.3 -9.7 -4.7 -5.5 154.0 17.3 -4.9 -5.6 151.8 8.3 -5.1 -1.5 162.7 32.7 -3.2 1.8 219.6 Net change In assets -11.9 Housenold sector Nonfarm noncorp, business -3.4 State and local governments -2.9 19 20 21 -21.7 21.4 118.9 16.8 32.2 118.9 -18.9 17.7 139.9 -28.8 26.3 104.3 -16.9 52.0 99.2 -17.7 20.9 137.2 -22.1 69.7 -12.2 -12.9 43.2 119.5 -9.1 52.8 77.9 -16.4 40.3 180.0 -1.4 18.3 98.6 4.0 22.4 72.8 22 23 24 25 26 56.4 23.1 -56.7 -57.2 0.5 10.2 34.9 -96.3 -92.1 -4.1 -92.7 -11.0 -82.0 -90.9 8.8 79.2 40.7 -50.5 -45.8 -4.7 -51.0 12.6 -76.8 -60.8 4.0 -53.7 6.5 -37.0 -43.2 6.3 117.5 49.7 -18.9 -18.9 X 98.4 63.2 -10.8 -11.1 0.4 25.7 69.3 -43.3 -45.3 2.0 -53.8 9.2 -45.5 -55.2 9.7 16.0 45.8 6.8 4.6 2.2 138.5 116.3 13.7 6.8 6.9 27 28 29 30 31 -9.1 -19.3 • .5 10.0 0.8 -12.9 -7.8 -.5 -1.7 -2.9 -18.1 -16.2 -.5 -.4 -1.0 -23.9 -21.5 -.6 3.5 -5.2 -23.1 -28.7 -.9 10.4 -4.0 -9.5 -9.3 -1.2 4.2 -3.2 -12.8 -8.6 -1.6 1.9 -4.6 -11.7 -18.5 -1.6 6.1 2.2 -34.5 -34.3 -1.3 3.1 -2.1 -26.1 -20.2 -1.0 -5.3 0.4 -14.2 -12.9 -.7 -1.8 1.2 -15.5 -21.3 -.6 6.5 -.1 Insurance sector Life insurance companies Other insurance cos. Private pension funds St.&loc. govt. rtr.funds 27 28 29 30 31 32 33 34 35 36 -1.9 60.4 -.9 41.7 -.2 2.6 23.0 1.4 -38.5 2.6 53.1 -.2 6.1 28.9 -.3 76.5 -.2 -1.5 -12.8 2.6 48.1 -.2 1.0 -50.4 0.2 35.5 -.2 -4.6 65.1 0.8 38.6 -.3 -1.1 -1.6 1.0 59.6 -.3 2.5 -13.3 0.2 45.0 -.3 1.6 -55.4 0.7 61.9 -.2 6.5 -66.2 0.7 36.8 -.2 11.3 -20.0 0.7 32.3 -.2 Finance companies Mortgage companies REITs ABS issuers Bank personal trusts 32 33 34 35 36 -.7 59.6 -.2 Private nonfinancial sectors Household sector Nonfinancial business Farm Nonfarm noncorporate Corporate 9 10 11 12 13 14 15 16 17 18 19 U.S. government Govt.-spons. enterprises (1) 20 Fed. related mortgage pools 21 Private finan. institutions Commercial banking Thrift institutions Savings institutions Credit unions 22 23 24 25 26 (1) FHLB loans to members are included in "other loans” category. F.217 Home Mortgages (2) I 2 3 4 206.5 201.8 4.2 0.4 233.2 228.4 4.3 O.S 92.6 87.5 4.6 0.5 227.4 222.3 4.5 0.5 164.9 159.4 4.9 0.6 120.9 115.4 5.0 0.6 193.5 187.9 5.0 0.6 236.5 230.8 5.2 0.6 184.5 178.7 5.2 0.6 180.2 174.3 5.3 0.6 144.9 138.9 5.4 0.6 199.6 Net borrowing Household sector 193.5 Nonfarm noncorp, business 5.5 Nonfin. corporate business 0.6 1 2 3 4 5 6 7 8 206.5 3.3 -.3 0.4 233.2 18.8 0.8 -.5 92.6 5.6 0.8 -.2 227.4 -15.5 0.8 0.3 164.9 10.8 0.7 -2.1 120.9 15.6 -.4 -.2 193.5 14.7 -.5 -12.7 236.5 -12.5 -.5 -4.4 184.5 15.1 -.6 -6.5 180.2 4.2 -.6 -2.7 144.9 27.4 -.6 1.1 199.6 Net change in assets Household sector -15.6 Nonfarm noncorp, business -.7 State and local governments -3.9 5 6 7 8 9 10 11 12 -28.5 18.0 118.3 34.7 4.5 30.2 120.8 43.0 -4.2 16.7 142.4 -14.9 -10.8 24.9 105.7 50.6 2.4 S0.4 102.5 22.1 -5.9 20.1 139.7 16.7 -11.3 68.7 -9.6 51.0 -7.1 40.4 120.4 59.7 -4.4 51.6 77.4 72.3 -7.8 39.6 180.6 8.8 -2.3 16.4 98.6 35.2 0.9 21.3 73.8 96.5 U.S. government Govt.-spons. enterprises Fed. -elated mortgage pools Commercial banking 9 10 11 12 13 14 15 -37.2 -37.8 0.5 -59.4 -55.3 -4.1 -55.1 -64.0 8.8 -32.5 -27.8 -43.9 -47.9 4. 0 -30.5 -36.8 6.3 l.l 1.1 -4.7 -8.6 -9.0 0.4 -31.9 -34.0 2.0 -37.8 -47.5 9.7 18.9 16.7 2.2 23.6 16.7 6.9 Thrift institutions Savings institutions Credit unions 13 14 15 16 17 18 19 6.3 -.7 7.5 -.5 1.2 2.7 X -1.5 0.2 -.7 -.4 1.3 -1.2 -1.0 0.4 -.6 0.2 -1.4 1.9 -.3 -4.6 -5.3 0.8 -.1 0.3 -.4 0.4 0.3 0.3 -.8 1.1 X -.5 -1.5 0.8 0.2 -2.0 -.9 -1.4 0.3 0.1 -.6 X 0.6 0.8 -.9 1.4 0.4 Insurance sector Life insurance companies Private pension funds St.&loc. govt. rtr. funds 16 17 18 19 20 21 22 23 24 -1.9 59.7 ■ 33.9 -.2 2.6 23.5 1.5 46.4 -.2 1.4 -40.6 0.3 40.4 -.2 8.1 28.2 X 69.2 -.2 -1.5 -12.7 0.3 36.0 -.2 1.0 -50.3 R 20.0 -.2 -4.6 64.5 0.1 32.0 -.3 -1.1 -1.9 0.1 52.0 -.3 2.5 -14.2 X 24.0 -.3 1.6 -55.4 0.1 52.0 -.2 6.5 -66.2 0.1 10.0 -.2 11.3 -20.0 0.1 11.2 -.2 Finance companies Mortgage companies REITs ABS issuers Bank personal trusts 20 21 22 23 24 R (2) Mortgages on 1-4 family structures. BILLIONS OF DOLLARS DECEMBER 7, 1994 Mortgages, Continued Mortgages, Continued F.218-F.220 Mortgage Markets, Continued 51 ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 F.218 Multifamily Residential Mortgages I Net borrowing Nonfarm noncorp. business 2 3 Nonfin. corporate business 4 REITs 5 U.S. government 5.4 5.1 0.4 x -.1 15.2 14.7 0.5 X -.1 25.1 24.5 0.6 0.1 -.1 30.3 29.6 0.7 X -.1 36.5 35.7 0.7 0.1 X 24.9 24.2 0.7 0.1 X 17.6 16.8 0.7 0.1 X 11.6 10.8 0.7 0.1 X 5.0 4.3 0.6 0.2 X -3.0 -3.5 0.4 0.2 - -11.0 -11.7 0.5 0.2 X -4.9 -6.7 0.6 1.2 w 1 2 3 4 5 6 Net change in assets 7 Household sector Nonfarm noncorp. business 8 9 State and local governments 5.4 -.5 1.0 1.4 15.2 1.4 1.1 2.4 25.1 0.2 2.0 4.5 30.3 2.4 0.7 3.2 36.5 4.4 1.0 7.0 24.9 5.5 -.9 7.0 17.6 X 0.5 l.l 11.6 -1.4 -.2 1.2 5.0 3.5 -.2 1.0 -3.0 1.0 -.6 1.0 -11.0 -1.4 -.1 0.7 -4.9 0.6 -.9 0.4 6 7 8 9 -4.5 1.7 -1.4 0.6 -2.4 10 11 12 13 14 10 11 12 13 14 U.S. government Govt.-spons. enterprises Fed. related mortgage pools Commercial banking Savings institutions -.3 -.1 0.4 1.4 1.6 -.3 -.1 1.2 1.9 7.0 -.7 0.9 1.1 2.1 14.4 w 1.9 1.5 3.1 14.5 0.7 0.3 5.1 7.4 7.2 0.4 -.3 4.5 4.1 4.8 0.3 1.1 5.2 0.8 5.6 0.5 2.5 5.6 4.8 -4.8 10.6 1.2 2.3 -1.9 -14.2 8.9 1.4 -3.4 -.1 -11.9 -4.2 1.6 -2.3 1.1 -13.1 15 16 17 Life insurance companies Private pension funds St.alocal govt. rtr. funds -.4 0.1 0.6 0.3 X 0.6 -.2 0.3 0.1 1.0 1.4 X l.l 1.5 X 1.6 -1.0 -.4 2.0 0.3 -.2 2.3 1.2 -.3 2.1 -.2 -.2 0.6 -2.4 -.2 -1.8 0.1 r• 7 -2.0 15 0.2 16 -.1 17 18 19 20 Mortgage companies REITs ABS issuers 0.1 X - -.4 0.1 - X 0.4 - 0.2 0.4 - 0.7 X - -.9 0.3 0.2 0.3 0.3 0.2 -.2 0.2 0.1 1.0 -.2 0.3 -.1 -.1 3.0 0.3 3.1 2.6 0.1 18 0.3 19 2.4 20 F.219 Commercial Mortgages 1 Net borrowing 2 Household sector Nonfarm noncorp. business 3 4 Nonfin. corporate business REITs 5 6 Net change in assets 7 Household sector Nonfarm noncorp. business 8 9 State and local governments 26.8 3.0 60.6 -36.9 0.1 52.5 13.1 39.6 -.3 X 62.6 7.0 51.7 3.6 0.3 65.7 5.9 '69.1 -9.4 X 75.3 8.1 35.7 31.4 0.2 76.4 10.2 29.9 36.1 0.2 52.4 9.5 22.5 20.2 0.2 48.0 19.1 16.4 12.3 0.2 9.8 15.3 -1.1 -4.9 0.4 0.7 12.4 -11.4 -.6 0.3 -45.2 12.4 -29.4 -28.5 0.4 -20.1 17.5 -23.7 -16.4 2.4 1 2 3 4 5 26.8 -3.1 1.5 0.9 52.5 2.7 1.8 0.4 62.6 -.5 4.4 0.3 65.7 2.5 3.4 0.7 75.3 4.9 -.5 0.7 76.4 11.7 -3.6 0.6 52.4 -16.6 -.4 0.1 48.0 -5.0 -2.0 0.4 9.8 6.9 -2.4 0.7 0.7 2.2 -2.8 O.S -45.2 0.3 -2.4 -.1 -20.1 2.9 -3.3 0.2 6 7 8 9 0.7 11.8 4.9 0.4 17.7 16.6 X 28.8 21.3 0.3 28.1 10.3 0.2 41.3 5.3 -1.8 43.0 5.2 -1.3 37.9 5.4 -.9 37.3 -7.1 9.0 13.4 -25.2 7.7 3.1 -22.4 -6.6 -8.4 -18.S 10 11 12 U.S. government Commercial banking Savings institutions 13 14 IS 16 Life insurance companies Other insurance companies Private pension funds St.Slocal govt. rtr. funds 5.4 0.3 4.1 0.5 10.3 0.7 1.3 0.3 7.3 0.4 -1.1 0.6 16.5 0.7 0.9 0.2 21.4 1.0 X 0.8 17.6 0.6 2.1 -.1 20.8 0.6 3.2 0.5 17.9 0.9 3.6 -.1 9.6 0.4 -3.3 0.9 -1.0 -.4 11.9 0.8 -15.3 -.6 2.3 -2.3 17 13 19 Mortgage companies REITs ABS issuers -.1 -.1 0.4 X 0.7 0.4 0.1 1.9 0.2 X 0.1 0.7 0.5 X 0.6 1.5 0.1 0.3 2.5 X -.5 0.7 -.5 1.3 0.3 -2.5 8.7 -4.5 10 -4.3 ll -7.5 12 -14.0 -1.4 2.8 -1.9 13 14 15 16 0.3 17 0.2 18 .10.3 19 F.220 Farm Mortgages 1 Net borrowing 4.1 2.4 -1.2 -6.6 -10.1 -6.9 -4.8 -2.5 -.3 0.4 l.i 0.5 1 2 Net change in assets 3 Household sector 4 Nonfarm noncorp. business 4.1 X 0.1 -1.2 -3.2 0.3 X -6.6 -3.4 X X -10.1 -4.4 X -4.8 -3.1 X w -2.5 -1.3 X X -.3 -.3 X X 0.4 0.9 X X i.i -.2 X X 0.5 -1.3 X X 2 3 4 5 6 7 8 5 State and local governments X 2.4 X -.1 X 0.2 -6.9 -2.3 X X 6 7 8 U.S. government Govt.-spons. enterprises Fed. related mortgage pools 0.5 3.9 -.2 0.4 l.l * 0.5 0.3 X 0.6 -4.5 -.2 0.3 -6.5 -.2 -.5 -4.8 X -.4 -1.9 X -.6 -1.8 w -.7 -.9 X -.4 -.5 X 3.9 -.1 X 0.7 -.2 ~X x X 1.0 0.1 -.1 X 0.9 0.3 -.3 - 1.2 0.2 -.6 - 1.4 X -.9 - 1.7 0.1 -1.0 - 1.1 -.1 -.3 - 1.2 w X - 0.6 -.2 1.2 - 1.2 -.1 -.7 - 1.4 -.1 -.8 - 1.0 9 X 10 0.3 11 12 9 10 11 12 Commercial banking Savings institutions Life insurance companies St.Slocal govt. rtr. funds BILLIONS OF DOLLARS. -.3 - DECEMBER 7, 1994 Mortgages* Continued Mortgages, Continued F.218-F.220 Mortgage Markets, Continued 52 SEASONALLY ADJUSTED ANNUAL RATES 1991 IV I I SEASONALLY ADJUSTED ANNUAL RATES 1992 I II III IV | 1 1993 I III II IV I I I 1994 II III F.218 Multifamily Residential Mortgages 1 2 3 4 5 2.1 1.3 0.4 0.3 - 10.5 9.7 0.5 0.3 - -16.9 -17.4 0.5 X X -11.3 -12.0 0.5 0.1 - -26.2 -27.1 0.6 0.3 - -5.1 -6.1 0.6 0.5 - -11.0 -12.0 0.6 0.4 - -2.9 -5.5 0.6 2.0 w -.8 -3.2 0.6 1.8 X -6.0 -6.7 0.6 0.1 X 4.5 3.7 0.6 0.2 R 6 7 8 9 2.1 1.8 -.7 0.6 10.5 0.2 X 0.5 -16.9 -1.7 -.1 1.3 -11.3 -1.3 -.1 0.3 -26.2 -2.8 -.2 0.8 -5,1 1.1 -.8 0.5 -11.0 -.3 -.8 0.7 -2.9 0.7 -.9 0.5 -.8 0.9 -.9 -.2 -6.0 O.S -1.0 0.6 10 11 12 13 14 4.0 2.8 0.7 1.8 -8.0 7.0 2.0 -1.9 0.3 -10.9 -11.5 1.0 -2.S 2.9 -9.5 -7.7 1.3 -1.4 4.1 -4.3 -4.8 2.2 -3.3 -2.9 -15.7 -6.0 1.3 -2.5 -2.4 3.3 -5.3 0.9 -2.6 2.5 -9.2 -4.1 2.0 -.9 -1.6 0.5 -2.6 2.5 0.5 3.9 -4.3 15 16 17 -1.6 -6.8 -.2 0.4 0.3 -.7 -1.7 -.3 -.8 -2.5 0.1 -.7 -3.3 0.4 -.5 -.5 0.2 -.5 -1.1 0.1 0.2 -2.1 0.4 -.1 18 19 20 0.7 7.0 0.1 9.2 4.0 -.1 1.7 4.4 1.0 -.2 0.2 1.7 2.0 * -.1 1.4 0.3 0.5 3.0 -.2 0.6 2.3 7.2 Net borrowing 6.5 Nonfarm noncorp. business 0.6 Nonfin. corporate business X REITs X U.S. government I 2 3 4 5 4.5 1.6 -1.0 0.4 7.2 Net change ln assets 1.7 Household sector -1.1 Nonfarm noncorp. business 0.3 State and local governments 6 7 8 9 -5.1 1.8 -.6 -.7 -1.8 -.5 0.8 -.1 -2.0 -2.7 0.9 0.3 -1.0 0.7 -2.5 U.S. government Govt.-spons. enterprises Fed. related mortgage pools Commercial banking Savings institutions 10 11 12 13 14 -4.1 0.1 0.1 -2.3 0.2 -1.5 -.3 0.1 -2.5 0.3 0.1 Life insurance companies Private pension funds St.Slocal govt. rtr. funds 15 16 17 0.3 0.2 2.8 0.5 2.0 0.5 9.2 0.5 9.5 Mortgage companies REITs ABS issuers 18 19 20 F.219 Commercial Mortgages 1 2 3 4 5 -28.0 23.2 -33.7 -18.0 0.6 -46.3 11.8 -32.8 -25.9 0.6 -25.8 8.7 -16.6 -18.0 0.1 -57.7 25.6 -40.8 -42.8 0.3 -50.8 3,5 -27.5 -27.4 0.6 -14.8 10.3 -19.3 -6.8 0.9 -30.0 30.8 -30.2 -31.5 0.9 -5.8 12.7 '-17.7 -4.9 4.1 -30.0 16.2 -27.6 -22.2 3.7 -23.3 0.2 -13.9 -9.8 0.2 7.4 13.0 -4.5 -1.5 0.4 9.0 Net borrowing Household sector 9.5 -4.9 Nonfarm noncorp. business 4.4 Nonfin. corporate business 0.1 REITs 1 2 3 4 5 6 7 8 9 -28.0 3.4 -3.0 1.2 -46.3 1.7 -2.4 0.3 -25.8 1.5 -2.4 0.9 -57.7 -.2 -2.4 -1.8 -50.8 0.3 -2.5 0.1 -14.8 2.2 -3.2 -30.0 3.3 -3.3 1.2 -5.8 3.9 -3.4 -1.5 -30.0 2.4 -3.4 i.l -23.3 3.4 -3.5 0.7 7.4 1.8 -1.6 0.3 9.0 Net change in assets 1.6 Household sector Nonfarm noncorp. business -1.7 0.7 State and local governments 6 7 8 9 10 11 12 2.8 -14.8 -11.4 5.6 -10.3 -25.9 -5.2 -.5 -17.3 -11.4 -15.5 -13.7 -15.2 -7.4 -17.1 -6.2 -8.1 -9.7 -6.2 -5.3 -10.8 -2.5 4.1 -2.7 -2.9 -8.0 -6.9 -4.1 -.4 -5.3 0.1 10.9 -9.4 1.3 17.1 -7.3 13 14 15 16 -16.3 -.5 9.3 1.6 -9.5 -.5 -2.0 -.6 -12.3 -.5 0.3 -1.4 -18.1 -.6 2.9 -3.9 -23.5 -.9 8.1 -3.1 -3.7 -1.2 3.2 -2.6 -7.6 -1.6 1.3 -5.0 -15.1 -1.6 4.7 2.4 -29.4 -1.3 2.2 -2.4 -16.6 -1.0 -3.9 X -1.0.8 -.7 -1.5 0.6 -17.9 -.6 4.8 -.6 17 18 19 -.9 0.8 -.6 -11.4 9.2 2.2 0.6 8.3 -.3 -.1 7.3 -.3 0.6 10.1 0.4 14.1 0.2 0.2 3.6 0.5 0.2 5.3 0.6 0.1 18.1 0.2 7.9 0.2 17.6 0.2 11.6 X x U.S. government Commercial banking Savings institutions 10 11 12 Life insurance companies Other insurance companies Private pension funds St.Slocal govt, rtr, funds 13 14 15 16 Mortgage companies REITs ABS issuers 17 18 19 F.220 Farm Mortgages I 0.9 -.6 2.7 2.8 2 3 4 5 0.9 -.3 * -.6 -.7 2.7 0.8 2.8 6 7 8 0.1 0.6 * - .4 9 10 11 12 1.4 -.1 -.8 - 2.0 -.1 -1.4 - X X x X X BILLIONS OF DOLLARS. X X 1.9 X * 1.5 -.1 -1.5 - X X -.5 0.2 1.0 0.4 0.2 0.8 6.0 3.7 Net borrowing 1 -.5 -1.0 0.2 -.4 1.0 -1.9 0.4 -1.8 0.2 -1.1 w 0.8 0.2 6.0 1.8 3.7 Net change in assets Household sector 0.5 X Nonfarm noncorp. business X State and local governments 2 3 4 5 1.3 l.l 1.0 0.2 - U.S. government Govt.-spons. enterprises Fed. related mortgage pools 6 7 8 1.7 X X 1.9 Commercial banking 0.1 - Savings institutions Life insurance companies St.Slocal govt. rtr. funds X X X X X X X X 1.1 0.1 0.8 -.6 0.4 -.5 0.7 0.2 - 0.8 0.3 0.8 -1.3 - 0.7 -1.0 0.9 0.3 1.5 1.0 0.2 - 0.5 - -.5 - 1.1 -.1 0.8 - 1.5 -.6 - X 1.4 X 0.2 - X X X X X w X X X X X w X X -.5 - X - X 9 10 11 12 DECEMBER 7, 1994 Consumer Credit and Bank Loans n.e.c Consumer Credit and Bank Loans n.e.c F.221-F.222 Consumer Credit and Bank Loans Not Elsewhere Classified 53 ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 62.3 65.1 -2.8 F.221 Consumer Credit 1 Net change in liabilities (HH) 2 Installment credit Noninstallment credit 3 16.4 14.9 1.6 48.9 44.1 4.8 81.7 75.0 6.6 82.3 76.8 5.5 57.5 54.9 2.7 32.9 37.4 -4.5 50.1 54.8 -4.7 45.8 42.2 3.5 16.0 19.0 -3.0 -15.0 -4.9 -10.1 5.5 2.2 3.3 4 Net change in assets Installment credit 5 Nonfarm noncorp. business 6 Nonfin. corporate business 7 Commercial banking 8 Savings institutions 9 Crsdit unions 10 Finance companies 11 ABS issuers 12 16.4 14.9 X 0.5 4.9 2.8 1.3 5.4 - 48.9 44.1 2.9 19.5 5.1 6.2 10.4 - 81.7 75.0 2.1 39.6 12.6 12.7 8.0 - 82.3 76.8 3.1 33.4 12.9 6.6 20.7 57.5 54.9 3.1 21.8 7.1 4.4 18.6 - 32.9 37.4 5.9 20.3 4.2 4.0 3.0 50.1 54.8 5.9 37.6 2.6 7.3 1.4 - 45.8 42.2 0.9 20.5 -3.3 3.3 -.7 21.6 16.0 19.0 2.9 4.3 -11.9 -.1 -6.0 29.7 -15.0 -4.9 -2.9 -6.4 -6.8 -1.3 -12.4 24.8 5.5 2.2 2.3 -10.6 -4.3 1.4 -4.6 18.1 Noninstallment credit Nonfarm noncorp. business Nonfin. corporate business Commercial banking Savings institutions 1.6 -.1 1.9 -.2 4.3 1.7 3.2 -.1 6.6 0.9 5.6 0.2 5.5 1.0 4.0 0.5 2.7 1.5 3.0 -1.8 -4.5 1.1 -3.8 -1.8 -4.7 1.0 -4.5 -1.2 3.5 2.0 2.4 -.9 -3.0 0.5 -2.4 -1.0 -10.1 -1.3 -8.2 -.7 3.3 0.1 3.7 -.5 -2.8 2.0 -4.5 -.3 13 14 15 16 17 13 14 15 16 17 1 2 3 62.3 4 65.1 5 6 8.5 7 38.5 8 0.8 9 9.9 10 -1.8 11 9.3 12 F.222 Bank Loans Not Elsewhere Classified Total loans by commercial banking, flow of funds basis 1 72.8 83.4 156.9 136.0 158.1 102.9 148.4 161.9 83.6 -3.1 18.5 83.6 1 16.0 6.7 X 0.3 49.8 29.2 22.7 2.4 0.5 28.4 44.6 45.2 5.8 -1.8 63.1 49.7 37.5 11.0 -2.9 40.7 70.1 24.8 -5.8 -1.1 70.2 86.2 16.5 -5.3 2.6 2.8 77.8 33.1 -.5 -1.2 39.1 94.3 22.8 4.3 -.2 40.7 78.6 1.9 -2.0 2.8 2.2 31.9 -14.5 10.6 -2.0 -29.1 19.3 -6.9 16.9 -1.4 -9.4 47.2 34.0 12.7 -1.9 -8.3 2 3 4 5 6 47.9 -1.0 0.2 2.7 27.3 -.3 -.4 1.3 56.0 0.1 5.7 1.3 28.8 -.7 10.5 2.1 46.6 1.5 21.9 0.2 -14.9 0.5 17.4 -.1 18.5 -.3 20.5 0.4 24.9 1.6 14.0 0.1 -7.8 -.2 6.9 3.3 -53.5 -1.9 29.3 -3.0 -19.8 0.4 9.9 0.2 7.8 7 -1.8 8 9 -13.7 -.5 10 11 * Loans from F.R. banks 12 = Total bank loans n.e.c. 49.8 28.4 63.1 40.7 70.2 2.8 39.1 40.7 2.2 -29.1 -9.4 11 -8.3 12 13 Net change in liabilities 14 Nonfinancial sectors Household sector 15 16 Farm business 17 Nonfarm noncorp. business Corporate business 18 49.8 47.3 1.8 3.2 -9.5 57.2 28.4 25.9 0.5 2.8 -.5 19.4 63.1 57.4 -4.1 1.0 16.8 50.2 40.7 40.9 10.1 -4.4 6.2 32.0 70.2 57.8 1.5 -4.3 11.9 49.6 2.8 11.1 2.2 -2.2 6.1 8.6 39.1 36.4 -3.9 0.8 4.4 36.9 40.7 27.2 -10.4 1.0 2.6 34.2 2.2 -2.5 -6.5 2.1 2.9 l.S -29.1 -37.8 -3.4 1.7 -14.3 -24.9 -9.4 -11.5 2.7 O.i -4.5 -12.0 -8.3 5.7 8.3 2.1 -2.2 -3.2 13 14 15 16 17 18 -5.5 X 0.7 -6.2 3.6 3.0 -.9 l.S -6.6 -.9 -3.1 -2.6 -2.8 -1.4 -1.3 -.1 -1.0 X 1.0 -2.1 -3.6 -.9 -2.9 0.2 -1.8 -.5 -1.3 -.1 -1.4 0.7 0.5 -2.9 -.5 -2.7 0.4 3.1 -.4 1.0 2.5 2.3 1.0 0.7 0.6 0.7 -1.0 1.2 0.5 19 20 21 22 2.5 -.1 1.0 1.6 X 2.5 0.3 1.8 0.6 -.2 5.7 2.5 1.7 1.5 0.1 -.2 1.9 -3.6 1.2 0.3 12.3 -.6 3.7 9.0 0.3 -8.3 -.5 2.9 -11.2 0.5 2.7 0.1 1.0 H 1.6 13.5 -.7 3.1 10.1 1.0 4.7 0.5 4.0 X 0.3 8.8 -.7 11.3 -2.4 0.6 2.2 X -4.6 8.0 -1.3 -14.0 -.5 -12.3 -1.0 -.2 23 24 25 26 27 Loans elsewhere classified: Mortgages 2 Consumer credit 3 4 Security credit Open market paper 5 6 ~ Banking sector total bank loans n.e.c. 7 U.S.-chartered banks Bank holding companies 8 Foreign banking off. in US 9 10 Banks in U.S.-aff. areas 19 20 21 22 23 24 25 26 27 Rest of the world Foreign official inst. Foreign banks Other foreign Financial sectors Savings institutions Finance companies Mortgage companies REITs BILLIONS OF DOLLARS. DECEMBER 7, 1994 Consumer Credit and Bank Loans n.e.c. Consumer Credit and Bank Loans n.e.c. F.221-F.222 Consumer Credit and Bank Loans Not Elsewhere Classified SEASONALLY ADJUSTED ANNUAL RATES 1992 1991 1 IV 1 ]C II c/ SEASONALLY ADJUSTED ANNUAL RATES IV III 1 1 1993 I II IV III I 1994 II ! III F.221 Consumer Credit 1 2 3 -10.3 ii .a -22.1 -4.6 -5.3 0.7 -15.0 -8.2 -6.8 12.0 6.8 5.2 29.6 15.5 14.1 20.3 33.1 -12.8 41.6 37.5 4.1 76.2 79.2 -3.0 111.3 110.6 0.7 72.7 67.5 5.2 121.9 129.9 -8.0 127.1 Net change In liabilities (HH) 128.8 Installment credit -1.8 Noninstallment credit 4 5 6 7 & 9 10 11 12 -10.3 U.S -10.2 6.0 -4.5 3.0 -7.3 24.8 -4.6 -5.3 -2.3 -7.4 -10.7 4.9 -4.5 14.8 -15.0 -8.2 10.5 -8.2 -4.3 -7.4 -13.4 14.6 12.0 6.8 8.4 -14.5 -2.2 5.6 -6.9 16.4 29.6 15.5 -7.5 -12.4 -.1 2.6 6.3 26.6 20.3 33.1 1.9 41.0 -1.9 7.0 -12.7 -2.1 41.6 37.5 15.2 24.9 2.8 13.0 -15.3 -3.1 76.2 79.2 12.9 43.3 -.3 10.3 -4.5 17.4 111.3 110.6 3.9 44.6 2.7 9.5 25.1 24.8 72.7 67.5 3.2 44.5 -2.9 7.7 25.3 -10.3 121.9 129.9 17.7 67.9 4.0 23.2 10.0 7.2 4 127.1 Net change in assets 128.8 Installment credit 5 Nonfarm noncorp. business 6 3.9 Nonfin. corporate business 7 77.3 Commercial banking 8 -.8 Savings institutions 9 23.9 10 Credit unions 18.5 Finance companies 11 6.0 ABS issuers 12 13 14 15 16 17 -22.1 -.6 -21.0 -.5 0.7 -2.9 4.3 -.6 -6.8 -5.4 -.9 -.5 5.2 4.1 1.5 -.4 14.1 4.6 9.9 -.4 -12.8 -.6 -11.8 -.4 4.1 -4.2 8.7 -.4 -3.0 7.4 -10.0 -.4 0.7 5.6 -4.9 -.1 5.2 5.2 -8.0 -5.2 -2.8 -1.8 8.5 -10.2 111.4 116.7 230.2 M 1 2 3 Noninstallment credit Nonfarm noncorp. business Nonfin. corporate business Commercial banking Savings institutions 13 14 15 16 17 Total loans by commercial banking* flow of funds basis 1 F.222 Bank Loans Not Elsewhere Classified I -31.4 37.2 -31.3 55.5 12.9 -35.5 136.7 80.4 152.9 Loans elsewhere classified: 116.3 2 Mortgages 67.1 Consumer credit 3 -29.1 Security credit 4 -.9 Open market paper 5 76.8 = Banking sector total bank 6 loans n.e.c. 49.6 U.S.-chartered banks 7 M Bank holding companies 8 26.5 Foreign banking off. in US 9 0.6 Banks in U.S.-aff. areas 10 2 3 4 5 6 23.1 -15.0 * 2.6 -42.1 34.9 -3.1 14.7 -.4 -8.9 -11.0 -9.1 2.6 -1.8 -12.0 40.7 -13.0 32.8 -3.9 -l.l 12.6 -2.5 17.7 0.3 -15.3 6.5 29.2 -19.7 -2.3 -49.2 49.7 33.6 40.1 -5.9 19.2 63.2 33.3 -6.2 -2.6 -7.3 69.3 39.7 36.4 3.2 4.2 9.2 49.7 -3.0 -6.4 61.9 45.8 65.1 -20.1 -1.2 27.1 7 8 9 10 -61.5 0.4 ’ 21.2 -2.2 -27.1 -.9 18.8 0.2 -31.3 -1.6 20.5 0.3 -12.3 5.9 5.1 0.2 -8.5 -2.0 -4.7 -29.4 -1.6 -17.9 -.3 21.5 2.1 -3.7 -.7 9.2 -1.9 -13.9 -.7 29.9 -6.0 -19.3 -.3 24.6 -.8 38.0 K 43.2 1.9 -18.3 0.3 11 12 -42.1 -8.9 -12.0 -1.1 -15.3 -49.2 19.2 -7.3 4.2 61.9 27.1 + Loans from F.R. banks 76.8 - Total bank loans n.e.c. 11 12 13 14 15 16 17 18 -42.1 -65.5 -13.6 0.8 -20.4 -38.7 -8.9 -29.4 -13.9 0.4 -4.0 -13.3 -12.0 -6.4 12.2 1.8 -10.6 -23.9 -1.1 -19.1 -19.9 -.4 -2.5 -.3 -15.3 8.8 32.2 -1.5 -1.0 -10.6 -49.2 -14.6 8.3 -.6 -7.8 -16.1 19.2 6.4 -17.5 1.8 6.2 9.4 -7.3 8.8 24.5 3.8 -10.7 -9.7 4.2 22.2 18.0 3.6 3.3 3.6 61.9 80.2 29.2 1.9 8.3 34.8 27.1 72.2 5.6 6.0 9.7 51.8 76.8 Net cnange in liabilities 94.4 Nonfinancial sectors 18.4 Household sector 2.2 Farm business 12.3 Nonfarm noncorp. business 60.6 Corporate business 13 14 15 16 17 18 19 20 21 22 6.5 -.3 -1.7 8.4 1.5 0.2 0.7 0.5 14.1 0.5 5.9 7.6 3.9 1.3 1.6 1.0 -10.3 1.8 -5.4 -6.6 1.5 -1.4 2.3 0.6 6.6 0.4 3.2 3.0 1.0 1.2 2.0 -2.3 -6.3 -4.0 -2.7 0.5 6.0 1.5 3.3 1.2 -.8 -2.7 -.1 2.0 0.9 1.2 -1.2 0.8 19 20 21 22 23 24 25 26 27 23.4 -2.8 2.6 22.2 1.5 20.4 1.7 -10.6 27.5 1.8 -5.7 -2.7 -.2 -3.3 0.6 18.0 0.6 1.7 14.4 1.3 -24.1 0.4 -9.4 -6.4 -8.8 -34.6 -1.2 -7.6 -25.2 -.6 12.8 -1.3 -18.2 32.4 -.1 -16.1 -1.0 -14.0 -.8 -.2 -18.0 1.6 -9.3 -10.4 0.1 -18.3 7.0 2.1 -27.6 0.2 -45.1 -9.4 -2.9 -33.2 0.4 -17.6 -1.1 -7.0 -10.0 0.5 BILLIONS OF DOLLARS Rest of the world Foreign official inst. Foreign banks Other foreign Financial sectors Savings institutions Finance companies Mortgage companies REITs 23 24 25 26 27 DECEMBER 7, 1994 Open Market Paper and Other Loans Open Market Paper and Other Loans F.223-F.224 Open Market Paper and Other Loans 55 ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 -5.1 2.5 10.0 -9.0 F.223 Open Market Paper 1 Total net Issues, all types 2 Commercial paper 3 Nonfin. corporate business 4 Foreign issues in U.S. 5 6 7 8 9 10 11 Financial business Commercial banking Funding corporations Finance companies REITs ABS issuers Bankers acceptances (1) 12 Net purchases, by sector Household sector 13 14 Nonfin. corporate business Rest of the world 15 16 17 18 19 20 21 Govt.-spons. enterprises Monetary authority Commercial banking (1) Funding corporations Savings institutions Credit unions 22 23 24 .25 26 27 28 Lifa insurance companies Private pension funds St.Slocal govt. rtr. funds Mutual funds Money market mutual funds Brokers and dealers Bank personal trusts 5.7 -5.4 -6.1 1.9 26.9 21.7 -.8 6.5 51.9 48.2 21.7 6.2 52.8 62.2 14.6 6.2 26.4 32.2 -9.3 11.5 32.3 26.8 1.6 3.8 75.4 78.2 11.9 8.7 65.9 70.1 21.4 13.1 30.7 36.0 9.7 12.3 -44.0 -29.7 -18.4 6.4 13.1 17.0 8.6 5.2 -1.1 1.4 3.4 -5.8 -.1 - 16.0 3.5 2.9 9.1 -.1 0.7 20.3 6.1 0.4 12.6 0.2 0.9 41.4 2.2 8.6 29.6 0.1 0.9 30.1 -3.3 10.6 21.6 0.3 0.9 21.3 1.5 7.0 10.7 0.4 1.8 57.6 -.2 39.1 17.1 -.1 1.7 35.6 4.4 13.8 8.7 -.2 8.9 13.9 -18.7 12.5 4.6 -.2 15.7 -17.7 -5.8 -13.5 -5.8 x 7.3 3.2 -3.9 1.5 -3.1 X 8.6 1 2 3 4 1.5 5 5.2 6 -10.7 7 2.7 8 -.3 9 4.6 10 11.1 5.3 3.7 -9.4 -5.9 5.6 -2.7 -4.2 -5.3 -14.3 -3.9 5.7 -4.2 9.9 -1.7 26.9 17.9 4.7 0.8 51.9 -1.6 3.4 1.2 52.8 58.4 0.5 -.2 26.4 -5.8 -4.4 -.1 32.3 3.3 5.7 1.0 75.4 31.3 0.4 2.8 65.9 -9.0 5.4 2.4 30.7 -8.3 1.5 -2.0 -44.0 -34.8 -.8 0.6 13.1 5.2 1.6 1.6 -5.1 -35.5 3.4 5.7 12 13 14 15 -.3 0.3 0.1 1.8 0.4 0.5 1.5 -1.7 - -.1 -1.8 0.1 -1.4 0.1 -.6 -2.9 0.7 -.2 0.1 X -1.1 2.6 1.8 0.6 2.6 2.2 -1.0 -.3 0.4 -1.2 4.0 0.8 0.4 2.9 -.2 8.0 -.7 0.3 0.5 2.8 16.1 x 1.2 7.1 -2.0 15.8 0.5 0.3 2.7 -1.4 23.5 -.7 0.4 -1.7 -1.9 18.1 -.3 -.7 16 17 18 19 20 21 3.1 -9.3 -.6 -1.3 4.9 3.1 5.3 2.0 2.0 1.0 -3.0 -4.8 0.3 1.9 2.4 3.0 2.4 31.8 5.7 4.9 -2.3 0.2 5.0 -2.3 1.2 * -2.8 -2.2 4.5 8.3 6.5 5.3 6.2 -2.0 4.1 2.7 5.6 6.0 3.2 6.0 -1.5 -3.1 5.1 2.5 -2.2 8.9 17.8 0.6 3.8 4.4 -9.9 -1.0 -1.9 57.5 3.0 4.7 -8.9 -1.4 4.1 4.9 20.1 0.6 -.5 -6.9 -4.1 9.3 -4.4 -14.7 -4.4 -5.2 -7.8 -2.9 5.8 7.3 -17.3 -2.4 -2.5 -2.8 1.3 0.3 21.4 -9.6 0.4 -3.2 22 23 24 25 26 27 28 X -7.7 11 (1) Excludes banks' holdings of own acceptances. F.224 Other Loans 1 Total other loans 34.2 35.7 94.7 56.3 72.7 72.2 70.5 44.7 35.6 -84.9 9.5 4.7 1 2 Savings inst. loans to bus. Nonfarm noncorp. bus. 3 Liab. : 4 Nonfin. corp, business 1.8 0.9 0.9 6.0 3.0 3.0 9.0 4.5 4.5 8.7 4.3 4.3 10.5 5.2 5.2 1.1 0.5 0.5 3.4 1.7 1.7 -1.3 -.9 -.9 -12.7 -6.3 -6.3 -10.6 -5.3 -5.3 -10.1 -5.0 -5.0 -1.6 -.8 -.8 2 3 4 5 Finance co. loans to business Nonfarm noncorp. bus. 6 Liab. : 7 Nonfin. corp, business 0.9 0.2 0.7 13.1 2.6 10.4 24.4 4.9 19.5 20.9 4.2 16.7 18.4 3.7 14.8 36.6 7.3 29.3 31.6 6.3 25.3 26.3 5.3 21.0 23.3 4.7 18.7 -.6 -.1 -.5 3.6 0.7 2.9 -6.7 -1.3 -5.3 5 6 7 8 A3S issuer loans to business 9 Liab. : Nonfarm noncorp. bus. 10 Nonfin. corp, business - - - - - - 0.6 0.1 0.5 3.8 0.8 3.0 3.0 0.6 2.4 2.8 0.6 2.3 11 U.S. government loans Household sector 12 Liab. : 13 Farm business 14 Nonfarm noncorp. bus. 15 Nonfin. corp, business 16 St.Slocal governments 17 Rest of the world 18 Govt.-sp. enterprises 13.6 1.6 0.2 4.6 1.3 1.0 4.5 0.4 8.5 0.8 2.7 -.5 1.1 4.3 - 16.7 0.6 1.1 2.0 1.2 7.7 4.0 - 15.9 7.0 0.4 0.5 -2.6 8.2 1.4 1.1 9.0 4.4 -.2 0.7 1.5 1.4 1.5 -.4 -3.0 3.3 -.4 -.6 0.1 -2.4 -2.4 -.8 -8.9 3.9 -3.9 0.6 -1.0 -3.3 -5.1 - -2.3 0.5 0.3 -.1 -.4 -.2 -2.3 - -1.9 3.0 0.2 -1.3 -.8 0.9 -3.7 -.1 -4.9 2.2 -1.4 0.1 -.8 0.4 -5.4 * 0.7 -.4 -.3 -.1 -.1 0.2 19 Govt. -spons. enterprise loans 20 Liab. : Household sector(SLMA) 21 Farm business (FIC3) 22 Noncorp. business (BC) 23 Commercial banks(FHLB) 24 Savings inst. (FHLB) 25 Credit unions (FHLB) 26 Life insurance (FHLB) 0.8 1.6 -.8 -.8 0.8 - -6.1 1.5 -1.3 0.9 -7.0 - 16.0 1.9 -1.2 -.4 15.7 - 11.8 2.5 -3.9 -1.0 14.2 - 19.2 2.4 -2.3 -.7 19.8 - 27.3 3.7 -1.6 0.8 24.4 - 21.9 2.8 -2.3 1.6 19.7 - -5.7 3.4 1.9 -11.0 - -20.0 4.1 0.3 0.2 0.4 -25.1 - -32.2 3.0 1.4 1.4 1.6 -39.7 3.8 1.6 0.2 1.2 4.3 -3.6 - X X 27 Policy loans (HH liability) 28 Asset : U.S. government 29 Life insurance cos. 4.2 0.4 -.1 4.8 5.7 -.1 0.4 -.4 -.1 -.7 0.6 4.1 0.4 -.1 0.2 -.3 3.2 4.3 1.1 * 1.1 3.2 4.1 4.8 5.7 5.7 27 X 28 5.7 29 Cust. liab. on acceptances 30 outstanding (bank asset) 31 Liab: Nonfin. corp, business 32 Rest of the world 7.7 -.8 8.5 6.9 7.0 -.1 3.8 2.8 1.0 -9.5 -2.1 -7.4 -5.6 -.2 -5.4 5.4 4.4 1.0 -2.3 -2.4 -2.1 3.2 -5.3 -9.8 -6.6 -3.2 -10.2 -5.9 -4.4 -3.6 -2.9 -.7 -6.4 30 -3.3 31 -3.1 32 Foreign loans to US corp. bus. 33 Liab. : Nonfin. corp, business 5.1 6.3 24.6 8.6 21.4 4.8 25.0 26.4 48.3 -34.1 7.2 -19.4 33 BILLIONS OF DOLLARS. X X X X X - X X X X X X X X 9.7 8 1.9 9 7.7 10 -2.9 -1.2 -.7 0.6 0.2 -.6 -1.1 - 11 12 13 14 15 16 17 18 26.4 1.8 0.2 1.2 9.7 13.2 0.2 0.2 19 20 21 22 23 24 25 26 DECEMBER 7, 1994 Open Market Paper and Other Loans Open Market Paper and Other Loans F.223-F.224 Open Market Paper and Other Loans SEASONALLY ADJUSTED ANNUAL RATES 1991 IV I 1 SEASONALLY ADJUSTED ANNUAL RATES 1992 1[ II 1993 1 IV III t II I IV III 1 1 I 1994 II III 67.8 Total net issues, all types Commercial paper 63.0 33.8 Nonfin. corporate business Foreign Issues in U.S. -8.1 F.223 Open Market Paper 1 2 3 4 -2.5 10.7 -7.5 14.9 1.8 3.9 10.3 -8.0 11.9 21.5 -2.0 27.8 35.1 37.9 4.0 13.1 3.7 4.7 22.3 -12.1 -110.9 -104.1 -14.1 -21.7 16.4 26.0 33.2 -.6 6.3 12.1 17.2 -1.6 67.7 76.1 3.8 -12.0 -57.2 -58.4 8.0 -101.8 13.3 17.4 16.4 -5.2 5 6 7 8 9 10 3.3 -1.7 4.2 -7.0 -.1 7.9 1.7 -1.1 6.1 -11.0 -.2 7.8 -4.2 -6.1 14.1 -11.6 it -.6 20.8 -1.6 -1.2 15.3 ii 8.2 -5.5 -6.6 -13.1 -5.1 0.1 19.2 -68.3 9.1 -62.2 -16.1 -.8 1.7 -6.5 3.4 -7.6 -5.7 -.6 3.9 -3.6 -2.7 -5.4 14.1 0.1 -9.6 84.4 11.0 32.4 18.7 22.3 35.4 4.4 -.3 38.2 N -7.0 6.2 6.8 -31.6 38.5 0.2 -7.6 11 -13.2 -2.1 -9.6 -2.8 -1.0 -6.8 -9.6 -5.8 -8.4 1.2 -4.1 12 13 14 15 -2.5 11.7 -7.3 6.6 1.8 -72.0 9.7 -3.7 11.9 50.4 -8.0 2.0 35.1 -47.0 1.7 4.9 3.7 89.6 2.9 3.1 -110.9 -112.0 1.3 -.2 16.4 -42.9 1.1 27.8 6.3 44.2 0.8 1.0 67.7 -31.3 10.4 -5.8 -57.2 -79.4 -13.8 16.9 13.3 -88.7 -2.6 0.6 16 17 18 19 20 21 7.3 2.6 25.8 0.9 -1.2 1.6 -.4 30.1 -2.2 5.4 -1.8 -17.3 -1.1 2.4 3.2 -3.9 69.9 0.1 0.3 0.5 0.3 11.4 0.3 -1.2 -2.5 -2.3 -3.8 0.1 0.8 3.6 -5.9 1.1 -1.3 -1.4 2.1 -2.6 32.4 -.3 -1.7 -9.8 3.2 42.6 0.4 -.7 9.5 -6.4 17.8 0.2 -2.0 -2.1 -1.2 35.3 0.2 1.7 -7.9 -.9 18.7 -.9 -.2 22 23 24 25 26 27 28 -27.9 6.3 1.4 -6.2 -14.5 -3.3 -4.7 -9.6 0.9 2.2 40.0 10.0 -1.5 -3.3 -10.5 -5.4 8.9 10.5 -33.8 12.4 -2.2 -11.2 -6.4 6.4 27.0 -6.2 -1.9 -1.9 -.1 -.7 5.8 -48.2 -39.1 -18.4 -2.6 -7.2 10.1 5.3 27.4 -30.6 5.7 -3.0 -1.7 0.9 6.9 39.9 -11.0 2.8 -3.4 -12.6 -5.4 -14.1 -7.7 -24.6 -2.0 -3.4 10.4 -.5 3.1 26.2 27.8 -5.0 -3.2 -7.2 -7.2 0.4 47.5 -22.0 -8.5 -2.9 -17.0 -6.3 0.8 26.7 38.7 30.0 -2.8 -.3 1.2 0.8 25.5 37.5 -23.7 -2.7 X 37.3 ll.l 20.3 -10.7 0.2 16.4 4.8 Financial business Conaercial banking Funding corporations Finance companies REITs ABS issuers Bankers acceptances (1) 67.8 Net purchases, by sector Household sector 36.9 -3.8 Nonfin. corporate business -12.3 Rest of the world 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Govt.-spons. enterprises Monetary authority Commercial banking (1) Funding corporations Savings institutions Credit unions 16 17 18 19 20 21 Life insurance companies Private pension funds St.Slocal govt. rtr. funds Mutual funds Money market mutual funds Brokers 3nd dealers Bank personal trusts 22 23 24 25 26 27 28 (1) Excludes banks* holdings of own acceptances. F.224 Other Loans 49.0 Total other loans 1 1 -78.7 -12.0 9.6 23.9 16.3 -10.4 -8.7 4.9 32.9 47.0 43.1 2 3 4 -5.1 -2.5 -2.5 -7.3 -3.7 -3.7 -6.1 -3.0 -3.0 -4.1 -2.1 -2.1 -22.7 -11.3 -11.3 -4.6 -2.3 -2.3 -.9 -.4 -.4 0.1 tt -1.0 -.5 -.5 -1.8 -.9 -.9 -.4 -.2 -.2 -.1 Savings inst. loans to bus. k Liab. : Nonfarm noncorp. bus. « Nonfin. corp, business 2 3 4 5 6 7 -16.9 -3.4 -13.5 2.9 0.6 2.3 -2.0 -.4 -1.6 -3.9 -.8 -3.1 17.5 3.5 14.0 -21.7 -4.3 -17.4 -14.8 -3.0 -11.9 14.9 3.0 11.9 -5.0 -1.0 -4.0 45.1 9.0 36.1 33.3 6.7 26.7 29.2 Finance co. loans to business Nonfarm noncorp. bus. 5.8 Liab. : Nonfin. corp, business 23.3 5 6 7 8 9 10 4.6 0.9 3.7 -2.5 -.5 -2.0 5.9 1.2 4.7 -1.0 -.2 -.8 8.9 1.8 7.1 16.1 3.2 12.9 8.3 1.7 6.7 -5.6 -1.1 -4.5 19.8 4. 0 15.8 9.2 1.8 7.3 -3.6 -.7 -2.9 11 12 13 14 15 16 17 18 -.4 4.0 -1.7 -3.0 -.6 O.S 0.3 -.1 -.4 1.1 -.2 -.6 -.2 0.2 -.7 -2.8 1.2 -.5 -.6 -.2 -.2 -2.4 2.5 0.8 -.4 -.4 -.2 2.7 - 0.8 -.1 -.3 0.4 0.1 -.3 1.2 -.1 -5.5 -.3 -.4 -5.0 -1.1 -.7 0.7 0.3 -.5 -3.6 - -2.5 -1.4 -.7 0.6 0.2 -.7 -.6 - 1.3 -2.1 -1.2 1.0 0.4 -.8 4.0 - -24.5 -2.6 -1.2 1.1 0.4 -.9 -2.1 -19.2 -6.8 -3.1 -1.6 1.3 0.5 -1.0 -3.0 - -10.7 U.S. government loans -3.6 Liab. : Household sector -1.7 Farm business Nonfarm noncorp. bus. 1.6 Nonfin. corp, business O.S St.Slocal governments -1.1 Rest of the world -6.3 Govt.-sp. enterprises * 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 -10.8 5.7 -.4 3.4 1.8 -21.3 -3.3 2.9 0.2 4.8 3.7 -14.8 - 4.2 3.2 1.1 -2.4 6.1 -3.8 - 15.3 2.6 -.4 -.1 4.6 8.4 -1.0 -2.1 -.1 2.3 3.0 -4.1 0.1 -.2 24.7 2.7 -1.5 3.0 7.4 12.8 29.5 1.6 0.5 22.4 1.2 1.0 3.3 8.1 8.2 0.1 0.4 -.3 4.7 1.6 4.2 1.1 -12.1 0.1 0.1 29.1 1.5 0.7 -1.4 11.0 16.5 0.3 0.6 31.0 2.1 1.4 -4.9 15.7 16.4 0.2 tt 36.2 Govt. -spons. enterprise loans 5.9 Liab. : Household sector(SLMA) -.6 Farm business (FIC3) Noncorp. business (BC) 0.1 Commercial banks(FHLB) 13.2 17.0 Savings inst. (FHL3) Credit unions (FHLB) 0.5 ii Life insurance (FHL3) 19 20 21 22 23 24 25 26 27 28 29 -1.2 3.9 tt 3.9 7.4 7.4 8.1 4.5 « M 8.1 4.5 8.2 it 8.2 - k N 0.1 -.5 -4.4 - M N m 12.1 15.1 0.3 -.1 M m 0.2 4.3 tt 4.3 5.8 ii 5.8 10.5 -1.2 2.2 2.2 10.5 3.3 tt 3.3 30 31 32 -12.0 -6.7 -5.3 -4.9 -7.5 2.5 -6.2 -3.1 -3.1 -3.0 -1.8 -1.2 -.5 0.7 -l.l -2.3 0.8 -3.1 -10.2 -5.3 -4.9 -5.0 -4.8 -.3 -8.2 -4.1 -4.1 4.5 1.9 2.6 -5.9 -1.8 -4.0 33 -36.9 1.3 12.2 12.5 2.7 -20.4 -19.2 -33.9 -4.2 10.2 -12.7 - K BILLIONS OF DOLLARS. N 8 0.1 ABS issuer loans to business K 9 Liab. : Nonfarm noncorp. bus. 0.1 Nonfin. corp, business 10 9.5 Policy loans (HH liability) » U.S. government Asset : Life insurance cos. 9.4 27 28 29 Cust. liab. on acceptances 2.8 out standing (bank asset) No-»fin. corp, business -.8 Liab: 3.6 Rest of the world 30 31 32 Foreign loans to US corp. bus. -18.0 Liab. : Nonfin. corp, business 33 DECEMBER 7, 1994 Security Credit, Trade Credit, and Taxes Security Credit, Trade Credit, and Taxes F.225-F.229 Security Credit, Trade Credit, and Taxes Payable ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 F.225 Security Credit 1 Net change in liabilities Household sector 2 3 Rest of the world 5.9 2.8 - 13.6 8.4 - 4.5 -2.3 43.3 18.9 - 9.9 6.7 - -27.4 -16.3 3.0 1.7 - 15.6 -1.0 - 3.5 -3.7 51.4 16.3 - 4.2 -1.8 - 61.9 22.7 - 1 2 3 4 5 6 7 3.1 0.5 -.5 3.1 5.2 2.0 O.S 2.7 6.8 4.7 1.1 1.0 24.5 6.8 4.2 13.5 3.2 -5.9 0.1 9.0 -ll.l -3.2 -2.1 -5.8 1.3 -.4 -.1 1.8 16.6 4.2 0.1 12.3 7.2 -5.4 3.4 9.2 35.2 2.2 8.4 24.6 6.0 3.1 13.9 -11.0 39.3 4.1 8.6 26.6 4 5 6 7 5.9 3.1 - 13.6 2.7 - 4.5 1.0 - 43.3 13.5 - 9.9 9.0 - -27.4 -5.8 - 3.0 1.8 - 15.6 12.3 - 3.5 9.2 - 51.4 24.6 4.2 -11.0 - 61.9 26.6 8 9 10 x 2.8 2.4 8.4 5.8 -2.3 ll.O 18.9 -5.8 6.7 -5.3 -16.3 -.5 1.7 4.3 -1.0 -2.0 -3.7 10.6 16.3 16.9 -1.3 12.7 11 22.7 12 Brokers and dealers From U.S.-chartered banks From fgn. bkg. off. in US Customer credit balances 8 Net change in assets Household sector 9 10 Rest of the world II 12 Commercial banking Brokers 3nd dealers F.226 Trade Credit 1 Net change in liabilities 2 Household sector Farm business 3 4 Nonfarm noncorp. business 5 6 7 8 9 Nonfin. corporate business State 3nd local governments Rest of the world U.S. government Brokers and dealers 10 Net change in assets 11 Nonfarm noncorp. business 12 Nonfin. corporate business 13 Rest of the world 14 U.S. government Other insurance companies 15 16 ABS issuers 17 Discrepancy 9.5 0.8 0.7 3.8 44.5 2.4 -.6 0.5 45.6 3.1 -.9 5.7 48.0 3.1 -2.6 5.4 27.6 2.3 -2.9 4.2 57.1 4.8 -1.2 7.5 80.7 2.5 0.8 4.2 68.2 16.1 0.5 7.0 37.0 11.3 0.5 2.1 3.6 -4.7 0.2 -4.0 41.5 7.2 0.2 2.1 49.0 8.1 1.0 7.4 I 2 3 4 4.9 0.9 -4.1 1.9 0.5 37.0 0.8 -1.1 3.0 2.5 33.7 1.0 -.6 3.3 0.4 34.0 1.1 -.2 4.6 2.5 13.7 1.6 -.8 9.8 -.4 39.9 2.0 2.5 2.4 -.8 59.2 2.2 7.7 2.3 1.7 30.5 2.7 2.8 9.2 -.5 29.3 3.1 -1.2 -6.3 -1.9 12.3 0.8 3.0 -4.8 0.7 30.1 2.3 1.2 -2.2 0.6 26.0 0.6 1.6 1.6 2.7 5 6 7 8 9 -1.2 8.0 -15.6 -.5 4.8 2.1 65.8 7.4 51.0 1.0 3.8 2.0 0.7 64.2 6.9 47.1 1.5 5.1 2.8 0.9 51.0 4.5 39.3 0.5 3.7 2.2 0.9 36.2 6.7 25.1 1.0 -2.3 4.9 0.9 67.9 8.7 45.3 0.2 8.3 3.6 1.8 95.8 12.1 72.0 3.1 0.2 6.8 1.7 61.2 7.8 43.7 2.4 3.4 2.8 1.2 27.8 5.0 15.2 6.2 -1.8 2.0 1.2 -6.1 -2.9 -2.7 0.6 -5.0 1.9 2.1 37.4 7.0 31.6 3.4 -7.0 -.1 2.5 32.5 9.0 18.0 5.2 -2.7 1.7 1.3 10 11 12 13 14 15 16 10.7 -21.3 -18.6 -3.0 -8.6 -10.8 -15.1 7.0 9.1 9.7 4.1 16.5 17 F. 227 Taxes Payable by Businesses 1 Net change in taxes payable by all businesses Nonfarm noncorp. business 2 3 Nonfin. corporate business 4 U.S.-chartered banks 5 Savings institutions 6 7 8 9 Life insurance companies Other insurance companies Finance companies Brokers and dealers 10 Net change in business taxes receivable State and local governments 11 U.S. government 12 13 Discrepancy -2.6 4.6 4.4 0.7 5.6 5.4 5.3 2.4 -4.8 -6.2 8.5 4.6 1 1.5 -4.3 -.1 1.8 3.1 -.1 1.1 3.5 3.4 -3.2 0.1 0.1 1.7 3.8 2.9 1.7 0.2 0.1 4.7 -3.1 0.2 -.1 0.6 -5.0 -.2 -.2 0.5 -8.2 0.1 0.6 5.1 0.1 0.1 0.6 7.2 0.2 0.2 0.7 2.0 0.5 0.6 2 3 4 5 x 0.2 0.1 0.1 0.1 0.1 0.6 0.1 0.1 -.1 -.1 0.2 0.1 0.5 0.5 0.2 0.2 0.1 * 0.1 0.1 0.1 0.6 6 7 8 9 X X X X X X -.1 -.2 X X X X X X -. 1 X X X X X X 0.2 » X * 0.3 -.2 -.1 0.3 0.2 0.1 -.6 -8.7 8.0 1.6 -.2 2.6 -1.3 -1.0 -.3 -5.0 -7.6 -5.5 3.6 10 1.5 -10.2 2.8 5.2 1.0 0.6 4.0 -4.1 2.7 -.2 0.5 -1.8 3.6 -4.7 3.5 -3.8 -.7 -4.2 1.5 -9.0 0.1 -5.6 0.2 11 3.4 12 6.1 -3.4 2.8 0.9 3.0 6.7 6.3 2.7 0.1 1.3 14.0 1.0 13 -28.3 -5.1 -16.9 -6.3 -3.3 -9.7 -3.6 10.1 18.4 -.9 12.9 6.5 -10.2 -11.2 -6.3 7.3 F..228 Proprietors' Equity in Noncorporate Business 1 Total household investment Farm business 2 Nonfarm noncorp. business 3 Brokers and dealers 4 -82.9 -9.4 -75.9 2.4 -76.5 -27.7 -50.9 2.1 -72.3 -2.9 -71.2 1.8 -58.6 14.5 -76.5 3.3 -34.6 10.1 -49.3 5.1 -70.0 -2.2 -61.4 -6.4 -23.5 -8.5 -21.8 6.8 -25.8 -6.9 -23.4 4.6 1 2 3 4 F.229 Investment in Bank Personal Trusts 1 Liab.: Bank personal trusts -1.9 3.2 15.1 10.2 18.1 13.2 2.2 19.6 29.7 16.1 -7.1 1.6 1 2 Asset: Household sector -1.9 3.2 15.1 10.2 18.1 13.2 2.2 19.6 29.7 16.1 -7.1 1.6 2 BILLIONS OF DOLLARS. DECEMBER 7, 1994 Security Credit, Trade Credit, and Taxes Security Credit, Trade Credit, and Taxes and Taxes Payable F.225-F.229 Security Credit, Trade Credit 1991 IV I I 1992 I II III 58 SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES 1 1 IV 1993 I II IV III 1 1 I 1994 II III F..225 Security Credit 1 2 3 113.6 40.0 - -61.6 -15.4 - -3.7 20.4 82.5 -2.0 -.4 -10.3 44.8 23.4 - 40.0 -1.5 - 76.6 31.5 - 86.5 37.2 - 29.7 2.2 - -17.3 -3.0 - -62.3 Net change in liabilities Household sector -14.0 Rest of the world - 1 2 3 4 5 6 7 73.6 -6.2 6.2 73.5 -46.3 10.7 4.0 -61.0 -24.1 -9.9 12.5 -26.7 84.4 7.6 25.2 51.7 9.9 4.0 13.7 -7.7 21.4 -5.5 -14.2 41.1 41.4 11.9 28.2 1.3 45.1 5.4 -11.6 51.3 49.3 4.5 31.9 12.8 27.5 7.2 -10.2 30.6 -14.3 -19.1 -1.0 5.8 -48.4 -14.7 -14.4 -19.3 4 5 6 7 8 9 10 113.6 73.5 - -61.6 -61.0 - -3.7 -26.7 - 82.5 51.7 - -.4 -7.7 44.8 41.1 - 40.0 1.3 - 76.6 51.3 - 86.5 12.8 29.7 30.6 - -17.3 5.8 - -62.3 Net change in assets Household sector -19.3 Rest of the world - 11 12 X 40.0 14.7 -15.4 2.6 20.4 32.8 -2.0 17.7 -10.3 -19.7 23.4 40.1 -1.5 -6.2 31.5 36.4 37.2 -3.0 2.2 -20.1 -3.0 -29.1 -14.0 Brokers and dealers From U.S.-chartered banks From fgn. bkg. off. In US Customer credit balances Commercial banking Brokers and dealers 8 9 10 11 12 F.226 Trade Credit 1 2 3 4 10.8 -1.9 0.2 -4.0 26.8 3.5 0.2 -1.4 41.8 7.8 0.1 3.2 51.2 9.4 0.2 3.2 46.1 8.2 0.5 3.2 43.4 7.7 1.0 7.4 51.0 7.9 1.0 10.0 49.6 8.2 1.0 6.0 51.9 8.4 1.0 6.0 30.3 8.6 1.0 4.0 67.2 8.8 1.0 6.8 61.6 Net change in liabilities 9.1 Household sector Farm business 1.0 Nonfarm noncorp, business 4.9 1 2 3 4 5 6 7 8 9 24.2 2.3 6.9 -19.3 2.3 33.9 3.9 -1.8 -8.4 -3.1 36.2 1.7 0.1 -9.0 1.7 19.7 2.4 3.9 11.9 0.5 30.6 1.2 2.5 -3.4 3.3 26.8 1.0 7.2 -10.6 2.8 23.3 0.4 -.8 1.8 7.3 28.8 1.0 -3.8 6.6 2.0 25.1 0.1 4.0 8.7 -1.5 17.2 0.2 -1.6 -7.8 8.7 59.8 0.7 3.2 -4.2 -9.1 41.0 0.4 3.2 0.9 1.1 5 6 7 8 9 10 11 12 13 14 15 16 16.9 -1.3 15.9 2.9 -4.1 1.3 2.3 46.0 6.0 39.9 1.1 -3.7 0.4 2.3 41.4 7.0 37.7 7.6 -10.2 -.5 -.2 20.9 7.0 22.0 3.5 -13.4 -.5 2.4 41.1 8.0 26.6 1.3 -.7 0.3 5.6 37.7 8.1 32.2 4.2 -8.5 1.1 0.5 25.3 8.8 20.1 0.1 -6.7 1.9 1.1 27.5 9.2 2,9 15.3 0.8 2.0 -2.8 39.4 9.8 16.9 l.l 3.5 1.6 6.5 57.3 9.6 54.3 6.5 -15.2 1.3 0.3 77.5 9.6 68.3 2.1 -1.5 1.1 -2.2 63.8 Net change in assets 9.6 Nonfarm noncorp, business 47.9 Nonfin. corporate business 2.4 Rest of the world -2.0 U.S. government 1.0 Other insurance companies ABS issuers 4.8 10 11 12 13 14 15 16 17 -6.1 -19.2 0.5 30.3 5.0 5.8 25.7 22.2 12.5 -27.0 -10.3 -2.2 Discrepancy 17 Nonfin. corporate business State and local governments Rest of the world U.S. government Brokers and dealers F.227 Taxes Payable by Businesses 1 -2.8 12.1 3.5 8.5 9.7 7.9 7.3 -1.8 4.9 13.7 -3.4 2 3 4 5 0.4 -5.2 0.1 0.4 0.6 10.1 0.1 0.7 0.6 3.1 0.2 -.5 0.6 7.3 0.3 X 0.7 8.5 0.3 0.7 0.7 4.9 0.4 0.9 0.7 5.5 0.4 0.3 0.7 -5.6 0.5 0.8 0.7 3.3 0.5 0.2 0.7 11.5 0.6 0.6 0.8 -2.0 0.7 -2.8 6 7 8 9 0.4 0.4 0.1 0.7 0.2 0.2 0.1 0.1 0.1 0.1 X N 0.1 0.3 X X 0.1 -.6 0.1 0.1 0.1 0.9 0.1 0.1 0.1 X 0.1 0.1 0.1 1.5 0.1 0.1 0.1 -.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 -.3 10 -4.2 5.4 -5.9 -21.9 0.2 14.9 10.9 -2.9 13.5 14.5 -15.8 11 12 2.2 -6.4 2.9 2.5 0.2 -6.1 -2.2 -19.7 -.7 0.8 -.5 15.4 0.9 11.8 -1.3 -1.6 1.7 11.8 -1.4 15.8 0.2 -16.0 13 1.4 6.8 9.4 30.4 9.5 -6.9 18.2 1.2 -8.6 -.7 12.4 -45.8 -3.0 -40.1 -2.6 -47.2 -6.1 -34.6 -6.4 5.9 Net change in taxes payable by all businesses Nonfarm noncorp, business 0.8 5.0 Nonfin. corporate business 0.7 U.S.-chartered banks -1.0 Savings institutions 0.1 0.1 0.1 0.2 Life Insurance companies Other insurance companies Finance companies Brokers and dealers 7.4 Net change in business taxes receivable -.4 State and local governments 7.7 U.S. government -1.4 Discrepancy 1 2 3 4 5 6 7 8 9 10 11 12 13 F.228 1Proprietcrs ’ Equity in Noncorporate Business 1 2 3 4 15.6 -9.0 15.1 9.5 3.5 4.6 -.9 -.3 28.4 -4.1 25.1 7.4 9.1 -2.3 5.0 6.4 32.8 -1.9 22.3 12.4 -6.6 -4.3 -16.3 13.9 14.8 12.4 -5.5 3.0 6.2 -18.8 10.0 15.1 -25.8 -9.5 -13.5 -2.8 -39.9 Total household Investment 5.1 Farm business -42.9 Nonfarm noncorp, business Brokers and dealers -2.1 1 2 3 4 F.229 Investment in Bank Personal Trusts 1 7.9 -.3 -10.2 -12.0 -6.0 -4.2 -7.2 0.1 17.6 15.4 -15.5 6.7 Liab.: Bank personal trusts I 2 7.9 -.3 -10.2 -12.0 -6.0 -4.2 -7.2 0.1 17.6 15.4 -15.5 6.7 Asset: Household sector 2 BILLIONS OF DOLLARS. DECEMBER 7, 1994 Total Miscellaneous Claims Total Miscellaneous Claims F.230 Total Miscellaneous Financial Claims 59 ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 136.7 0.8 11.5 13.5 130.4 0.6 14.0 11.3 158.7 -1.0 20.3 18.9 177.9 0.1 8.1 26.4 163.8 -1.3 4.2 36.6 230.6 1.2 8.6 54.5 211.8 0.4 8.8 74.0 313.8 0.8 9.4 72.8 135.7 0.1 9.9 51.3 197.2 -.7 7.6 32.9 257.6 K 8.5 16.9 302.1 0.9 8.3 -.1 1 2 3 4 Rest of the world U.S. government 46.4 0.2 3.5 2.0 10.8 4.9 2.7 0.6 8.Q 3.2 31.9 -9.4 2.4 9.6 48.4 16.2 16.1 -17.1 6.1 14.3 66.1 -.1 100.0 0.7 5 6 Financial sectors Govt.-spons. enterprises Monetary authority Commercial banking Funding corporations 64.4 5.9 w 22.6 0.2 99.0 -.2 -.1 31.6 2.9 104.9 10.2 0.5 36.9 0.2 140.0 8.9 0.1 35.7 1.5 113.2 8.3 -.1 34.5 0.7 143.8 -2.1 1.0 44.7 4.3 116.5 1.1 M 48.4 -10.4 166.2 6.3 4.2 102.7 6.1 75.4 4.6 -4.4 6.2 20.4 137.0 7.8 1.2 48.6 31.4 166.1 12.5 -3.1 68.2 44.2 1 Net change in liabilities 2 Household sector 3 Nonfarm noncorp. business 4 Nonfin. corporate business 5 6 7 8 9 10 11 192.3 7 -4.9 8 1.0 9 95.2 10 52.7 11 12 13 14 15 Savings institutions Credit unions Life insurance companies Other insurance companies 17.1 -.9 7.0 11.1 19.3 9.2 12.7 14.9 0.6 14.8 14.6 18.7 -.1 14.4 37.3 10.6 0.2 5.4 42.7 8.4 0.9 5.3 42.4 12.5 0.4 8.8 31.3 3.0 -.6 10.9 34.0 15.2 0.2 -4.2 26.5 -1.5 0.6 ll.l 15.3 0.2 0.1 12.5 23.2 -3.7 0.5 14.7 15.9 12 13 14 15 16 17 18 19 Finance companies Mortgage companies REITs Brokers and dealers 6.8 0.6 0.1 -6.2 10.4 0.2 K 13.1 9.2 0.6 0.2 2.2 14.3 2.0 0.1 6.9 0.9 2.8 0.1 7.0 33.4 -1.5 0.4 6.4 15.0 5.1 2.3 1.8 -2.2 10.1 -1.4 -6.9 7.0 -.9 5.0 3.2 13.6 1.6 4.0 3.8 -7.9 0.6 11.8 14.8 1.0 -.1 5.2 16 17 18 19 138.3 7.1 1.7 -13.5 32.7 95.3 15.5 1.1 -3.7 7.3 124.2 1.3 0.1 13.5 6.5 197.7 28.3 2.9 7.4 2.6 215.2 17.2 3.2 11.3 41.6 278.6 25.1 2.0 10.7 35.8 207.1 16.4 2.8 8.8 77.2 369.4 14.9 2.1 7.7 5.4 171.1 18.2 2.0 9.6 29.9 242.4 9.6 1.3 5.2 43.1 303.6 17.0 2.0 3.8 90.8 347.3 13.1 1.5 1.6 57.0 20 21 22 23 24 0.8 1.6 5.0 0.7 21.8 1.5 24.2 1.4 23.2 0.5 72.5 1.3 64.2 2.1 96.1 15.4 38.3 34.2 62.3 36.1 27.3 15.4 107.9 0.9 0.1 57.5 3.4 69.3 0.7 0.5 14.9 3.2 79.6 2.9 3.0 25.5 1.2 130.9 -3.2 1.0 43.1 10.7 118.1 1.0 1.7 37.9 7.5 130.9 5.2 2.2 48.2 9.6 35.6 6.9 0.4 22.7 19.6 227.8 9.5 8.2 100.7 2.5 38.8 2.5 -1.2 -21.6 3.6 84.9 6.0 -2.2 16.3 -6.6 147.4 -12.7 -3.2 70.0 10.4 197.8 3.5 2.6 78.5 19.5 27 28 29 30 31 20 Net change in assets Household sector 21 22 Farm business 23 Nonfarm noncorp. business 24 Nonfin. corporate business 25 26 Rest of the world U.S. government 27 28 29 30 31 Financial sectors Govt.-spons. enterprises Monetary authority Commercial banking Funding corporations 80.2 25 -3.8 26 32 33 34 35 36 37 Savings institutions Credit unions Life insurance companies Other insurance companies Private pension funds St.aioc. govt. rtr. funds 25.8 8.1 0.7 4.5 1.4 12.5 0.6 6.1 0.7 18.9 2.8 30.2 0.8 9.1 0.5 3.1 -1.6 17.0 2.1 7.7 -.1 27.2 1.4 7.2 2.8 8.0 0.7 18.8 6.6 12.9 -.4 9.9 1.8 19.6 0.9 6.2 0.6 8.7 2.7 -73.4 16.0 4.5 1.9 8.0 1.6 26.3 30.5 8.1 2.4 -2.0 1.4 -8.0 23.0 -45.5 5.1 11.3 -.3 37.7 -16.3 -12.8 5.7 -2.7 -2.6 14.3 21.9 -26.2 3.6 -.8 2.2 17.4 6.0 32 33 34 35 36 37 38 39 40 41 42 Finance companies REITs Money markat mutual funds Brokers and dealers Bank personal trusts 3.5 0.2 -1.1 2.9 0.1 2.3 * -.4 6.0 0.3 -.1 1.2 1.5 2.4 0.1 12.5 0.3 0.6 9.7 0.9 13.0 0.1 2.9 10.3 -.3 14.6 l.l 1.4 2.7 1.2 11.7 2.6 0.5 10.5 -.1 3.6 0.9 5.2 23.0 1.4 9.6 -1.5 -6.4 29.4 -.4 34.5 1.5 6.9 34.3 2.2 0.3 -1.2 9.5 48.8 1.8 28.0 3.0 17.2 39.7 3.5 38 39 40 41 42 -1.6 35.1 34.5 -19.8 -51.4 -47.8 4.6 -55.6 -35.4 -45.3 -46.0 43 Discrepancy BILLIONS OF DOLLARS. N -45.3 43 DECEMBER 7, 1994 Total Miscellaneous Claims Total Miscellaneous Claims F.230 Total Miscellaneous Financial Claims SEASONALLY ADJUSTED ANNUAL RATES 1991 I IV I SEASONALLY ADJUSTED ANNUAL RATES 1992 I II III IV I 1 1993 I II III IV I 1 I 1994 II III 316.8 Net change in liabilities Household sector 0.9 Nonfarm noncorp. business 9.9 Nonfin. corporate business 39.6 1 2 3 4 1 2 3 4 304.7 -.6 8.6 51.1 247.0 -.3 8.7 -18.5 254.0 -.1 8.6 20.1 335.1 0.1 8.6 24.1 194.5 0.3 8.3 42.1 197.9 0.6 8.2 -52.3 404.0 0.9 7.5 -11.3 222.3 1.0 9.5 22.4 384.0 0.9 7.9 41.0 279.6 0.9 9.8 11.9 204.8 0.9 8.9 -15.8 5 6 >68.8 89.5 132.7 3.1 137.5 -11.4 -52.3 3.9 46.7 3.9 116.1 12.4 199.4 -17.4 -16.6 -4.7 100.9 12.5 205.7 3.0 1.9 -9.9 80.1 -4.4 7 8 9 10 11 224.8 -6.8 -5.3 176.4 34.3 121.2 47.7 -5.8 -66.5 72.7 99.3 -17.5 -11.3 181.7 -42.2 350.8 19.1 14.8 141.0 131.2 93.2 0.6 -10.0 16.4 15.3 112.9 -49.9 9.2 70.5 65.2 224.9 24.9 -10.4 105.6 25.0 210.6 -10.6 20.4 72.9 64.7 220.8 16.1 -15.3 132.0 56.2 48.2 -49.4 8.2 -45.4 45.0 218.8 -28.8 -5.8 147.7 85.3 190.7 -9.4 15.7 79.2 35.7 12 13 14 15 -4.2 0.5 -10.3 15.3 -1.2 -1.1 21.2 20.2 -4.4 1.5 9.3 25.4 4.3 -.7 8.4 24.9 2.0 0.5 11.2 22.4 -8.3 1.3 13.8 17.3 5.1 0.7 13.9 14.3 4.9 -2.0 20.3 13.2 -16.4 2.1 10.6 19.0 2.2 0.3 12.3 21.2 16.9 0.7 6.6 21.6 9.9 -3.0 12.3 21.6 16 17 18 19 -13.5 38.2 4.4 -4.2 22.8 -4.5 -6.8 22.4 -19.9 -35.2 -1.2 13.0 -12.0 14.5 -4.0 9.4 24.4 -6.4 14.2 2.5 34.3 -25.2 -7.1 -8.2 -.9 32.7 3.4 10.7 16.4 -.8 0.5 10.8 9.3 -2.9 2.7 7.4 30.3 -27.8 -2.2 53.5 11.2 -33.0 0.8 -4.5 28.9 -10.0 -2.3 12.0 20 21 22 23 24 302.9 14.7 1.8 5.0 82.4 297.3 15.8 1.6 4.2 86.3 343.3 17.8 1.8 4.8 68.1 387.7 18.0 2.6 3.9 92.8 186.1 16.3 1.9 2.4 116.2 299.4 14.1 1.8 2.0 -29.3 501.6 12.2 1.5 1.3 72.8 240.7 17.1 1.3 1.2 79.6 347.6 8.9 1.5 1.8 105.1 367.2 14.7 1.9 2.0 70.6 376.5 12.0 1.9 2.2 -12.2 236.9 Net change in assets Household sector 20.5 Farm business 2.2 Nonfarm noncorp. business 1.3 63.9 Nonfin. corporate business 25 26 42.4 9.3 46.4 31.1 6.0 34.2 38.4 5.1 18.3 -8.9 65.5 -1.8 100.2 -3.9 68.4 -16.7 86.6 7.1 89.2 -13.3 10.4 15.0 155.5 -9.7 Rest of the world U.S. government 25 26 27 28 29 30 31 147.3 28.7 11.1 -21.1 -3.4 112.0 -36.6 -14.1 99.2 31.3 210.5 7.1 -2.8 208.4 8.7 226.9 2.6 11.8 -24.6 5.4 40.0 -24.1 -7.7 -2.9 -4.0 247.1 7.2 3.4 154.6 41.4 317.6 -1.1 7.4 157.9 21.2 89.8 17.5 -.4 -36.5 7.7 136.6 -9.8 0.2 37.9 7.8 202.2 -10.9 -.1 35.1 56.9 349.1 -12.1 2.7 231.6 -2.3 3.1 -12.7 2.4 -90.5 45.3 Financial sectors Govt.-spons. enterprises Monetary authority Commercial banking Funding corporations 27 28 29 30 31 32 33 34 35 36 37 -12.7 -1.7 3.9 -1.1 45.3 -8.7 -13.2 11.5 -9.3 1.9 -8.2 10.7 -5.4 -3.1 -.6 1.7 0.8 -4.7 -12.6 6.8 -.8 -15.4 15.6 65.9 -20.2 7.5 0.1 1.4 49.0 15.9 -49.4 5.5 4.1 2.6 22.6 16.1 -20.8 -.6 13.6 1.8 7.6 10.6 -29.8 7.0 -6.2 1.4 26.3 -1.7 -4.9 2.6 -14.9 3.1 13.2 -.9 -10.4 21.6 22.1 1.5 -24.5 3.0 -11.0 -2.9 -8.9 0.9 -8.7 4.4 -28.0 -16.5 22.3 0.4 26.7 30.7 Savings institutions Credit unions Life insurance companies Other insurance companies Private pension funds St.Sloc. govt. rtr. funds 32 33 34 35 36 37 38 39 40 41 42 36.1 6.6 7.7 54.4 2.2 -2.0 -8.4 47.6 1.8 -6.0 -.7 57.8 -52.1 1.4 8.5 -l.l -14.6 177.8 1.6 0.8 -3.2 3.1 21.9 2.3 45.3 -3.7 -7.1 1.5 2.9 26.6 9.1 70.4 10.6 3.4 27.2 2.7 10.5 60.3 3.7 12.8 4.0 -4.9 86.5 3.9 13.5 0.3 37.7 52.1 4.1 42.9 0.4 45.0 62.7 4.4 -16.9 0.3 -7.6 42.6 4.7 Finance companies REITs Money market mutual funds Brokers and dealers Banc personal trusts 38 39 40 41 42 43 1.8 -50.4 -89.3 -52.6 8.4 -101.5 -97.6 -18.4 36.4 -87.6 -173.7 M BILLIONS OF DOLLARS. Rest of the world U.S. government Financial sectors Govt.-spons. enterprises Monetary authority Commercial banking Funding corporations 5 6 7 8 9 10 11 Savings institutions Credit unions Life insurance companies Other insurance companies 12 13 14 15 Finance companies Mortgage companies REITs Brokers and dealers 16 17 18 19 79.9 Discrepancy 20 21 22 23 24 43 DECEMBER 7, 1994 Identified Miscellaneous Claims Identified Miscellaneous Claims F.231 Identified Miscellaneous Financial Claims 61 ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 76.5 65.7 96.4 131.5 140.9 163.0 152.5 192.1 127.5 128.7 176.5 209.6 1 U.S. direct investment abroad (1, 12.9 2 Liab. : Rest of the world 9.7 Equity 3 2.7 Reinvested earnings 4 0.5 Intercompany accts. 5 ll.l 4.9 11.7 -5.5 14.6 1.3 16.6 -3.3 9.2 -2.2 14.3 -2.9 12.2 0.6 8.4 3.2 23.4 4.6 15.9 2.9 10.1 -6.1 10.9 5.3 31.9 6.4 11.9 13.5 24.9 8.7 20.4 -4.3 30.3 17.7 16.9 -4.3 38.4 14.4 14.5 9.5 57.9 17.4 29.6 10.9 2 3 4 5 1 Total identified claims 6 Asset : 7 8 9 10 11 Nonfin. corp. bus. Commercial banking Life insurance cos. Other insurance cos. Finance companies Brokers and dealers 10.8 1.3 x 0.7 0.4 -.2 8.2 1.4 0.1 0.7 0.5 0.2 12.0 1.5 0.3 0.5 0.5 -.1 8.7 0.3 0.1 -.1 0.1 0.1 12.1 -1.7 -.2 0.7 1.2 N 21.9 -1.2 X 1.8 -.7 1.7 5.8 -.1 X 2.7 2.3 -.7 19.1 0.2 -.1 1.6 11.0 X 27.8 0.2 0.6 1.4 -5.4 0.3 29.3 -1.0 0.6 -.3 1.3 0.5 34.3 2.0 0.3 -2.6 3.3 1.1 41.9 6 2.0 7 0.1 8 2.2 9 10.7 10 1.0 11 Foreign 12 Liab. : 13 14 15 16 17 18 19 direct investment in U.S. Nonfarm noncorp. bus. Nonfin. corp. bus. Commercial banking Funding corporations Life insurance cos. Other insurance cos. Finance companies Brokers and dealers (1, 1.2 8.1 1.5 0.3 0.3 0.2 0.8 1.3 8.0 0.9 -.1 0.5 -.3 0.3 l.l 18.7 1.7 1.1 -.3 1.9 0.5 0.6 17.8 1.4 0.7 0.3 -.5 -.3 1.1 32.1 1.6 -4.4 2.2 0.5 2.1 0.6 0.6 52.3 1.7 -.1 0.9 1.0 -.2 2.1 0.8 69.4 2.7 -18.5 1.3 1.2 -.5 0.9 1.4 61.8 2.3 -10.0 1.4 2.2 7.2 1.4 1.9 55.9 0.9 -11.8 1.9 2.5 -3.5 0.1 -.4 12.0 3.6 -.1 1.3 3.3 4.4 2.0 X 9.0 1.8 -2.8 -.5 0.7 1.8 X -.2 -9.8 3.8 16.6 2.3 0.8 7.6 0.4 12 13 14 15 16 17 18 19 20 Asset : 21 22 23 Rest of the world Equity Reinvested earnings Intercompany accts. 12.5 8.3 -3.7 7.8 10.5 8.7 -1.4 3.2 24.7 15.0 2.3 7.4 20.0 15.2 -.4 5.2 35.6 25.1 -.8 11.3 58.2 30.6 12.8 14.8 57.3 40.4 5.4 11.5 67.7 51.9 -6.7 22.5 47.9 57.0 -13.5 4.4 26.1 41.9 -17.8 2.0 9.9 25.5 -11.6 -3.9 21.4 21.7 -9.4 9.1 20 21 22 23 U.S. govt, equity in IBRD, etc. Rest of the world 24 Liab.: U.S. government 25 Asset: 1.3 1.3 0.7 0.7 1.1 1.1 1.5 1-5 1.5 1.5 1.2 1.2 2.4 2.4 1.2 1.2 1.3 1.3 1.5 1.5 1.4 1.4 1.1 24 1.1 25 Nonofficial foreign currencies 26 Liab.: Rest of the world 27 Asset: U.S. government 0.4 0.4 0.1 0.1 0.4 0.4 -.1 -.1 -1.0 -1.0 0.1 0.1 -.3 -.3 -.1 -.1 0.1 0.1 1.0 1.0 O.i 0.1 0.3 26 0.3 27 Postal Savings System deposits 28 Liab.: U.S. government Household sector 29 Asset: - - - - -2.9 -2.9 7.0 7.0 4.5 4.5 3.6 3.6 -6.6 -6.6 -1.3 -1.3 6.9 6.9 4.8 4.8 1.0 1.0 -.9 -.9 -7.0 30 -7.0 31 Deposits at Federal Home Loan Banks 2.8 30 Liab.: Govt.-sp. enterprises 2.8 Savings institutions 31 Asset: - - - 28 29 Federal Reserve 3ank stock Monetary authority 32 Liab.: Commercial banking 33 Asset: 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.1 0.1 0.2 0.2 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.4 0.4 0.3 32 0.3 33 Equity in govt.-spons. enterprises Govt.-sp. enterprises 34 Liab.: U.S. government 35 Asset: Farm bus. (FICB & FLB) 36 Nonfarm noncorp. (BC, 37 Nonfin.corp.bus.(FNMA, 38 Commercial banks(FHLB) 39 Savings inst. (FHL3, 40 Credit unions (FHLB) 41 Life insur. cos.(FHLB) 42 0.9 0.4 X 0.1 0.4 - 0.2 0.1 * X 0.1 - 0.9 0.1 X X 0.8 - 0.9 -.3 x 0.1 1.1 - 0.6 -.6 -.1 0.1 1.2 - 1.7 -.5 X 0.4 1.8 - 2.0 0.1 X 1.9 - -.6 -.9 0.1 X 0.2 - -2.5 -.2 -.1 X 0.1 -2.4 X X -.2 0.2 X 0.5 0.6 -1.5 X -.1 -.1 1.7 0.1 0.2 X 1.3 X X X -1.0 -1.0 0.1 0.1 -1.3 -1.3 1.2 1.2 0.4 0.4 0.8 0.3 0.1 0.1 -.7 -.7 X * Deferred and unpaid life insurance premiums 0.8 0.6 Household sector 43 Liab.: 0.8 44 Asset: 0.6 Life insurance cos. Life insurance company reserves Life insurance cos. 45 Liab.: Health 46 Policy div. accum. 47 Household sector 48 Asset: X X 0.7 -.9 X X 34 35 36 37 38 39 40 41 42 0.9 43 0.9 44 2.3 1.3 1.0 2.3 3.2 1.8 1.4 3.2 2.7 1.6 1.1 2.7 3.5 2.3 1.2 3.5 3.0 2.5 0.5 3.0 3.7 2.7 1.0 3.7 4.1 2.9 1.2 4.1 4.6 3.0 1.6 4.6 4.9 3.6 1.3 4.9 4.6 4.8 -.2 4.6 7.5 6.9 0.6 7.5 6.7 6.2 0.5 6.7 45 46 47 48 10.8 4.8 1.3 2.0 2.7 12.2 12.3 1.0 -4.6 3.5 14.8 -1.4 X 11.0 5.1 37.0 24.9 3.2 4.8 4.2 42.2 14.2 3.8 5.4 18.8 41.4 21.4 2.5 6.7 10.7 30.1 12.4 2.8 4.8 10.2 31.3 10.3 2.9 3.8 14.6 24.0 13.4 2.2 6.0 2.4 12.0 5.0 1.1 2.1 3.8 22.6 9.5 2.1 3.9 7.1 15.2 6.4 1.4 2.7 4.8 49 50 51 52 53 Pension fund contributions payable 54 Liab.: 5.3 Nonfin. corp, business Private pension funds 5.3 55 Asset: 3.3 3.3 0.2 0.2 8.6 8.6 4.5 4.5 2.2 2.2 4.6 4.6 11.0 11.0 -4.6 -4.6 20.9 20.9 8.0 8.0 16.2 -.6 5.6 0.6 21.7 15.5 N 3.8 0.2 19.5 18.9 1.2 7.7 Q.6 28.4 15.6 0.7 10.8 2.0 29.2 16.7 0.2 5.4 2.8 25.2 19.8 -.9 -3.8 -1.5 15.0 28.6 21.3 X -9.9 5.1 2.4 18.8 8.6 X -1.1 10.1 1.2 18.7 5.4 -.4 -4.0 -16.4 -15.4 19.4 -1.0 -5.3 13.6 -21.9 4.8 27.8 -1.0 1.7 -7.9 9.7 30.2 NFC investment in finance co. subs. 62 Liab.: Finance companies 1.1 63 Asset: Nonfin. corp, business 1.1 1.1 1.1 1.1 l.l 4.7 4.7 2.1 2.1 -6.2 -6.2 -3.3 -3.3 -.4 -.4 6.2 6.2 2.2 2.2 1.7 1.7 0.8 62 0.8 63 1.9 1.5 3.4 2.2 1.0 3.2 0.3 0.8 1.2 2.2 8.5 10.7 4.2 3.4 7.5 7.2 2.4 9.6 12.8 6.8 19.6 2.6 -.2 2.5 -1.8 5.4 3.6 -17.3 10.7 -6.6 -8.8 19.2 10.4 2.3 64 17.2 65 19.5 66 0.2 0.2 2.9 2.9 0.2 0.2 1.5 1.5 5.1 5.1 4.4 4.4 8.0 8.0 16.1 16.1 32.1 32.1 31.5 31.5 47.1 47.1 36.1 67 36.1 68 Policy payables Other insurance cos. 49 Liab.: Household sector 50 Asset: Farm business 51 Nonfarm noncorp. bus. 52 Nonfin. corp, business 53 BHC investment in subsidiaries 56 Liab.: Commercial banking Savings institutions 57 Finance companies 58 59 Mortgage companies 60 Brokers and dealers 61 Asset: Bank holding companies Funding 64 Liab.: 65 66 Asset: corp, invest, in subs. Fgn. bkg. off. in US Brokers and dealers Funding corporations Securities borrowed (net, 67 Liab.: Funding corporations 68 Asset: Brokers and dealers (1) Excludes capital gains/losses. BILLIONS OF DOLLARS 9.8 54 9.8 55 31.6 0.4 2.4 1.0 9.5 44.9 56 57 58 59 60 61 DECEMBER 7, 1994 Identified Miscellaneous Claims Identified Miscellaneous Claims f.231 Identified Miscellaneous financial Claims 62 SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES 1991 IV 1 145.4 1 1 1992 I 152.7 II III 123.5 280.8 IV 149.1 I I 1993 I 122.4 II III 228.0 191.0 IV 297.2 I I I 239.6 1994 II 132.5 III 247.8 Total identified claims U.S.. direct investment abroad (1) 55.0 Liab.: Rest of the world Equity 10.0 16.6 Reinvested earnings 28.4 Intercompany accts. 1 2 3 4 5 35.7 30.8 6.0 -1.1 51.0 28.6 -5.3 27.6 46.1 8.5 34.2 3.3 22.8 1.6 24.1 -2.9 33.9 19.0 4.9 10.0 24.8 7.3 10.1 7.4 87.4 25.9 42.7 18.8 35.2 16.6 39.7 -21.2 84.1 19.9 25.7 38.5 79.7 11.8 8.0 59.9 50.8 9.4 48.6 -7.3 6 7 8 9 10 11 41.0 -2.7 2.3 -1.1 -4.3 0.5 27.5 0.1 0.7 1.9 20.0 0.8 47.8 1.9 0.7 1.7 -6.8 0.8 38.2 2.5 -.1 -15.4 -2.6 0.2 23.8 3.6 X 1.4 2.5 2.6 34.2 -1.1 -.1 2.6 -11.2 0.3 61.6 2.1 X 1.8 19.1 2.8 46.9 3.6 0.1 1.4 -17.3 0.5 24.8 3.4 0.2 3.1 52.2 0.5 56.5 -l.l -.2 1.5 22.8 0.3 61.9 2.9 X 0.9 -15.4 0.5 59.2 Asset: -1.0 -.3 0.4 -3.6 0.3 12 13 14 15 16 17 18 19 0.6 26.0 9.0 -17.3 -1.3 0.7 5.5 -.3 0.2 -13.7 0.9 12.4 0.7 0.5 5.1 0.3 0.1 19.4 0.2 -7.6 0.8 0.8 -4.8 0.6 0.1 15.3 2.5 -8.6 0.5 -.1 7.3 X -.2 14.7 3.5 -7.6 -3.9 1.5 -.9 -1.0 -.3 -65.3 4.3 72.8 0.1 0.1 1.2 0.2 -1.0 -15.5 5.0 22.7 7.7 0.5 12.0 0.3 1.0 8.1 2.4 -.2 1.3 -.3 8.6 0.1 -.6 33.4 3.5 -29.0 -.1 2.7 8.6 1.0 1.3 25.6 2.9 9.4 1.4 2.6 10.6 2.0 0.4 -10.9 3.0 14.8 0.2 1.3 2.1 0.1 foreigni direct 1.4 Liab.: 24.6 2.9 -1.7 0.9 2.5 5.0 1.5 20 21 22 23 22.9 39.5 -20.2 3.6 6.5 28.1 -5.4 -16.2 9.5 25.0 -22.5 6.9 17.5 32.2 -8.1 -6.5 6.0 16.5 -10.6 0.1 13.2 17.4 -7.8 3.5 31.6 27.6 -19.4 23.4 21.0 23.9 -10.0 7.2 19.6 17.8 -.4 2.2 55.9 23.4 8.4 24.1 10.9 25.6 -12.6 -2.1 24 25 1.8 1.8 1.3 1.3 1.2 1.2 1.5 1.5 1.7 1.7 0.9 0.9 1.1 1.1 1.0 1.0 1.6 1.6 0.9 0.9 1.4 1.4 U.S;. govt. equity in IBRD, etc. Rest of the world 1.6 Liab.: U.S. government 1.6 Asset: 24 25 26 27 1.1 1.1 0.3 0.3 0.5 0.5 -.9 -.9 0.3 0.3 1.3 1.3 1.6 1.6 2.3 2.3 -4.0 -4.0 -.5 -.5 0.7 0.7 Nonofficial foreign currencies 0.8 Liab.: Rest of the world 0.8 Asset: U.S. government 26 27 - - - - - - - Postal Savings System deposits - Liab.: U.S. government - Asset: Household sector 28 29 28 29 37.0 Asset: 27.2 -2.2 12.0 2 3 4 5 Nonfin. corp. bus. Commercial banking Life insurance cos. Other insurance cos. finance companies Brokers and dealers 6 7 8 9 10 11 investment In U.S. (1) Nonfarm noncorp. bus. Nonfin. corp. bus. Commercial banking funding corporations Life insurance cos. Other insurance cos. finance companies Brokers and dealers 12 13 14 15 16 17 18 19 Rest of the world Equity Reinvested earnings Intercompany accts. 20 21 22 23 Deposits at federal Home Loan Banks Govt.-sp. enterprises -11.2 Liab.: Savings institutions -11.2 Asset: 30 31 federal Reserve Bank stock Monetary authority 0.3 Liab.: Commercial banking 0.3 Asset: 32 33 30 31 -7.2 -7.2 14.5 14.5 -1.8 -1.8 4.0 4.0 -20.3 -20.3 -8.1 -8.1 -15.5 -15.5 -8.5 -8.5 4.0 4.0 -7.3 -7.3 -14.8 -14.8 32 33 0.3 0.3 0.4 0.4 0.3 0.3 0.6 0.6 0.3 0.3 0.5 0.5 0.4 0.4 0.2 0.2 0.3 0.3 0.2 0.2 0.3 0.3 34 35 36 37 38 39 40 41 42 -1.1 0.4 0.2 0.7 -2.4 X - -.5 -.2 -.1 0.1 0.7 -1.0 X -1.2 -.4 0.1 0.8 -1.8 X 0.1 1.2 0.4 X -.1 0.8 X X -.1 X 0.6 -.7 X - 1.4 0.3 0.2 0.1 1.0 -.2 X X 1.6 0.2 X 1.4 -.2 0.1 « 2.3 X 0.2 X 1.4 0.7 X X 1.4 0.2 X 1.4 -.2 X X 1.4 0.2 0.2 0.2 1.4 -.7 X X 2.8 0.1 0.2 X 2.2 0.3 X X 43 44 -.6 -.6 -.3 -.3 -.1 -.1 0.1 0.1 0.3 0.3 0.6 0.6 0.9 0.9 1.0 1.0 0.9 0.9 0.9 0.9 45 46 47 48 4.6 4.8 -.2 4.6 7.5 6.9 0.6 7.5 7.5 6.9 0.6 7.5 7.5 6.9 0.6 7.5 7.5 6.9 0.6 7.5 6.9 6.4 0.5 6.9 6.4 5.9 0.5 6.4 11.5 11.0 0.5 ll.S 2.1 1.6 0.5 2.1 6.9 6.4 0.5 6.9 3.5 3.0 0.4 3.5 49 50 51 52 53 14.6 10.1 1.3 2.6 0.6 19.7 8.3 1.8 3.5 6.2 24.6 10.3 2.2 4.3 7.7 25.0 10.5 2.3 4.4 7.9 20.9 8.8 1.9 3.7 6.6 17.2 7.2 1.6 3.0 5.4 13.8 5.8 1.3 2.4 4.3 13.5 5.6 1.2 2.4 4.2 16.3 6.8 1.5 2.9 5.1 18.6 7.8 1.7 3.3 5.9 20.4 8.5 1.9 3.6 6.4 54 55 25.1 25.1 -4.8 -4.8 0.7 0.7 8.7 8.7 27.3 27.3 13.1 13.1 4.2 4.2 14.3 14.3 7.5 7.5 -13.7 -13.7 -4.9 -4.9 56 57 58 59 60 61 26.6 -1.0 -4.1 38.2 -55.6 4.0 -16.9 -1.0 -4.5 -12.0 -34.4 51.2 -1.0 0.8 -35.2 45.6 61.3 33.0 -1.0 0.1 14.5 0.9 47.5 43.8 -1.0 5.9 -6.4 4.2 46.5 33.0 10.5 -25.2 -5.1 13.2 30.6 3.8 32.7 -.1 67.0 32.9 0.8 -.8 -.8 -6.5 25.6 30.1 1.0 -3.8 -2.9 49.7 74.0 16.5 1.6 -3.2 -27.8 20.7 7.7 9.7 2.0 7.2 -33.0 -.7 -14.8 62 63 -4.1 -4.1 0.8 0.8 0.1 0.1 5.9 5.9 3.9 3.9 4.1 4.1 -.9 -.9 -3.7 -3.7 -3.5 -3.5 7.2 7.2 64 65 66 -22.5 19.1 -3.4 12.5 18.7 31.3 -1.1 9.9 8.7 -20.4 25.7 5.4 -26.3 22.4 -4.0 18.6 22.8 41.4 -.5 21.7 21.2 -6.0 13.7 7.7 -2.8 10.6 7.8 56.9 56.9 X -2.3 -2.3 funding corp, invest, in subs. Pgn. bkg. off. in US 24.8 Liab.: Brokers and dealers 20.5 funding corporations 45.3 Asset: 64 65 66 67 68 51.7 51.7 60.2 60.2 -34.6 -34.6 139.7 139.7 22.9 22.9 -7.7 -7.7 2.2 2.2 64.9 64.9 85.2 85.2 35.5 35.5 70.5 70.5 Securities borrowed (net) 37.4 Liab.: funding corporations 37.4 Asset: Brokers and dealers 67 68 * Equity in govt 1.6 Liab.: - Asset: 0.1 X X 1.2 0.2 0.1 X .-spons. enterprises Govt.-sp. enterprises U.S. government farm bus. (fICB 8 PL3) Nonfarm noncorp. (30 Nonfin.corp.bus.(fNMA) Commercial banks(PHLB) Savings inst. (PHLB) Credit unions (PHL3) Life insur. cos.(PHLB) Deferred and unpaid life insurance premiums 0.9 0.9 Liab.: Household sector Life insurance cos. 0.9 0.9 Asset: 43 44 Life insurance company reserves 11.5 Liab.: Life insurance cos. Health 11.0 Policy div. accum. 0.4 11.5 Asset: Household sector 45 46 47 48 Policy payables Other insurance cos. 19.1 Liab.: Household sector 9.0 Asset: farm business 2.1 3.0 Nonfarm noncorp. bus. 5.0 Nonfin. corp, business 49 50 51 52 53 Pension fund contributions payable 15.0 Liab.: Nonfin. corp, business 54 Private pension funds 55 15.0 Asset: BHC investment in subsidiaries 15.4 Liab.: Commercial banking 2.4 Savings institutions 10.6 finance companies -10.0 Mortgage companies Brokers and dealers 4.5 Bank holding companies 22.9 Asset: 56 57 58 59 60 61 NPC investment in finance co. subs. finance companies 62 10.5 Liab.: Nonfin. corp, business 63 10.5 Asset: (1) Excludes capital gains/losses. BILLIONS Of DOLLARS 34 35 36 37 38 39 40 41 42 DECEMBER 7, 1994 Unidentified Miscellaneous Claims 63 Unidentified Miscellaneous Claims F.232 Unidentified Miscellaneous Financial Claims ANNUAL FLOWS 1 Net chanse in liabilities 2 Nonfarm noncorp. business 3 U.S. sovernment 4 Govt.-spons. enterprises 5 Rest of the world 6 Monetary authority ANNUAL FLOWS 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 60.2 10.3 0.2 2.2 31.8 -.1 64.7 12.7 2.0 2.4 -8.3 -.2 62.3 19.2 4.9 2.3 -5.3 0.4 46.3 7,5 0.6 3.5 -8.0 -.1 22.8 3.1 3.2 4.1 -4.7 -.2 67.5 8.0 -9.4 2.9 7.1 0.8 59.3 8.0 9.6 0.5 -9.8 121.7 8.0 16.2 H 15.4 4.1 8.2 8.0 -17.1 2.3 -10.2 -4.6 68.5 8.0 14.3 6.9 -26.7 1.0 81.1 8.5 -.1 13.5 26.2 -3.5 92.4 8.5 0.7 0.5 40.7 0.6 57.5 7 13.6 8 22.3 9 19.7 10 2.0 11 M 1 2 3 4 5 6 7 8 9 10 11 Commercial banklns U.S.-chartered banks Foreign banking off. In US Bank holding companies Banks in U.S.-aff. areas 3.1 -8.8 1.5 10.9 -.5 13.1 1.4 -2.1 11.2 2.5 16.0 13.1 -2.0 5.3 -.4 16.4 10.3 -1.3 6.1 1.3 12.1 2.4 -.9 13.3 -2.7 16.1 -6.2 16.9 6.4 -1.1 11.6 4.4 -1.5 8.1 0.7 89.2 10.8 73.1 4.9 0.5 1.7 1.6 -2.0 1.2 1.0 43.0 9.2 34.6 0.1 -.9 47.5 -8.8 29.2 25.8 1.2 12 13 14 15 16 17 Savings Institutions Credit unions Life insurance companies Finance companies REITs Brokers and dealers 17.8 -.9 4.5 -.1 0.1 -8.4 19.2 6.2 5.8 11.8 13.7 0.6 11.0 -1.5 0.2 0.9 18.0 -.1 10.3 -.7 0.1 -1.3 10.5 0.2 0.2 -8.7 0.1 3.0 9.3 0.9 0.8 43.6 0.4 -13.0 12.6 0.4 3.5 28.8 2.3 -8.2 3.0 -.6 4.9 -7.8 -1.4 -9.3 15.6 0.2 -10.9 8.3 -.9 15.9 -.5 0.6 5.2 1.9 1.6 13.2 1.2 0.1 5.5 -1.4 0.6 -17.0 -4.1 0.5 5.7 3.9 -.1 -21.9 12 13 14 15 16 17 61.8 -15.6 18.1 0.9 -11.7 0.1 29.5 0.9 -5.5 0.7 -5.4 0.5 27.8 2.4 -11.8 2.9 -3.0 3.0 66.1 2.6 -15.2 -3.2 4.2 1.0 74.3 6.0 8.5 1.0 -12.5 1.7 115.3 4.0 9.0 5.2 14.3 2.2 54.6 4.0 64.6 6.9 6.9 0.4 177.3 3.8 -28.0 14.3 9.5 28.4 8.2 43.6 3.7 -6.5 32.8 2.5 -9.6 -1.2 113.8 3.0 7.2 33.6 6.0 36.3 -2.2 127.1 -.1 47.7 13.9 -12.7 17-4 -3.2 137.7 -1.3 9.5 -5.3 3.5 58.8 2.6 18 19 20 21 22 23 24 Id Net change ln assets 19 Nonfarm noncorp. business Nonfin. corporate business 20 U.S. government 21 22 Govt.-spons. enterprises 23 Rest of the world 24 Monetary authority H 25 26 27 28 29 Commercial banking U.S.-chartered banks Foreign banking off. in US Bank holding companies Banks in U.S.-aff. areas 34.4 -3.0 40.1 O.S -3.2 -6.1 -5.7 -2.5 0.4 1.7 -4.5 -2.0 -1.2 1.4 -2.8 13.5 13.1 1.2 -.1 -.8 14.3 3.5 6.5 6.3 -2.1 20.6 2.3 17.6 1.3 -.6 3.9 0.9 2.3 -.7 1.4 81.7 12.0 66.7 2.2 0.9 -6.7 4.0 -24.0 13.2 0.1 11.7 -1.1 14.9 -1.6 -.5 36.6 -2.7 35.2 4.8 -.7 29.9 -5.5 35.3 0.5 -.4 25 26 27 28 29 30 31 32 33 34 Savings institutions Credit unions Life insurance companies Private pension funds St.Sloc. govt. rtr. funds 22.5 K 7.4 -.9 1.4 15.3 0.6 5.4 15.6 2.8 22.3 0.8 9.8 3.0 -1.6 11.4 2.1 7.5 18.6 1.4 2.4 2.8 9.5 14.3 6.6 17.7 -.4 8.7 17.5 0.9 5.6 0.6 8.2 -78.0 16.0 -2.6 1.9 7.3 15.3 30.5 5.7 2.4 -2.7 -3.4 23.0 -45.0 5.1 11.5 16.8 -16.3 -11.1 5.6 -3.0 6.3 21.9 -19.2 3.6 -1.8 7.6 6.0 30 31 32 33 34 35 36 37 38 39 Finance companies REITs Money market mutual funds Brokers and dealers Bank personal trusts 3.1 0.2 -1.1 2.9 0.1 1.8 -.4 2.9 0.3 -.6 1.2 1.5 2.4 0.1 12.3 0.3 0.6 8.1 0.9 11.7 0.1 2.9 5.1 -.3 15.3 1.1 1.4 -3.4 1.2 9.4 2.6 0.5 3.1 -.1 -7.4 0.9 5.2 6.9 1.4 14.9 -1.5 -6.4 -3.1 -.4 33.2 1.5 6.9 2.3 2.2 -2.9 -1.2 9.5 0.6 1.8 17.3 3.0 17.2 2.6 3.5 35 36 37 38 39 -1.6 35.1 34.5 -19.8 -51.4 -47.8 4.6 -55.6 -35.4 -45.3 -46.0 40 Discrepancy BILLIONS OF DOLLARS. M -45.3 40 DECEMBER 7, 1994 Unidentified Miscellaneous Claims Unidentified Miscellaneous Claims F.232 Unidentified Miscellaneous Financial Claims 64 SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES 1991 I IV !1 1992 I II III IV I 11 1993 I II III IV I 1 I 1994 II III 1 2 3 4 5 6 1 2 3 4 5 6 159.3 8.0 89.5 1.5 -107.4 -5.7 94.3 8.5 3.1 33.7 80.1 -6.1 130.4 8.5 -11.4 -14.5 89.7 -11.6 54.3 8.5 3.9 13.9 -75.8 14.2 45.4 8.5 3.9 21.0 10.8 -10.3 75.5 8.5 12.4 -43.1 89.1 8.7 176.0 8.5 -17.4 38.7 109.4 -10.9 31.2 8.5 -4.7 -4.5 -55.0 20.3 86.8 8.5 12.5 10.7 19.2 -15.6 40.1 8.5 3.0 -43.4 125.6 8.0 72.3 8.5 -9.9 -16.8 -51.0 -6.1 7 8 9 10 11 163.3 35.7 121.3 7.3 -1.0 -63.0 11.3 -100.5 24.2 2.1 131.5 -1.9 99.1 33.3 0.9 125.9 5.7 81.7 37.9 0.6 -4.5 -50.2 36.6 7.8 1.3 14.7 35.5 -44.7 22.2 1.7 70.6 2.9 40.8 24.9 1.9 43.5 -5.7 32.0 15.2 2.0 101.2 21.5 61.1 16.4 2.1 -64.7 60.0 -124.0 -3.0 2.3 135.0 23.1 116.6 -7.0 2.4 36.2 78.6 -45.0 0.2 2.5 Commercial banking 7 U.S.-chartered banks 8 Foreign banking off. in US 9 10 Bank holding companies Banks in U.S.-aff. areas 11 12 13 14 IS 16 17 -3.2 0.5 -13.6 -10.7 4.4 32.7 -.2 -1.1 13.0 17.7 -6.8 15.4 -3.4 1.5 1.0 -16.6 -1.2 -43.0 5.3 -.7 0.4 -20.1 -4.0 -17.2 3.0 0.5 7.7 13.6 14.2 -23.1 -8.3 1.3 6.8 18.8 -7.1 -26.1 5.1 0.7 -.2 -20.8 3.4 -11.1 4.2 -2.0 7.5 9.4 0.5 3.6 -17.4 2.1 8.6 8.2 2.7 -53.9 0.7 0.3 4.0 26.4 -2.2 -26.1 14.9 0.7 2.9 -5.3 0.8 -1.6 7.5 -3.0 -.1 2.8 -2.3 -14.5 Savings Institutions Credit unions Life insurance companies Finance companies REITs Brokers and dealers IS 19 20 21 22 23 24 157.5 2.3 44.9 6.4 28.7 19.5 ll.l 144.6 0.8 52.4 29.5 -36.6 40.0 -14.1 219.7 0.5 11.8 32.5 7.1 -3.5 -2.8 106.9 -.5 46.7 4.5 2.6 20.8 11.8 37.0 -1.2 79.9 -10.9 -24.1 12.3 -7.7 177.0 -1.2 -72.9 -4.0 7.2 52.3 3.4 273.7 -1.1 2.7 -6.6 -1.1 68.6 7.4 49.7 -1.4 29.3 -19.9 17.5 47.3 -.4 50.4 -1.3 78.9 9.5 -9.8 67.0 0.2 127.7 -1.5 11.5 -13.7 -10.9 33.3 -.1 246.0 -1.6 -87.7 13.0 -12.1 -.5 2.7 25 26 27 28 29 -23.4 -35.0 9.6 2.3 -.4 132.4 59.1 24.1 49.3 -.1 144.0 8.4 150.2 -13.4 -1.1 -76.0 -37.7 -35.2 -2.2 -1.0 -53.9 -40.4 1.7 -14.6 -.5 141.0 63.1 51.8 26.7 -.6 87.0 8.7 91.6 -13.1 -.2 -67.2 -52.1 -13.5 -1.2 -.4 -41.2 -41.7 11.4 -10.4 -.5 26.9 96.7 -77.4 6.3 -.7 241.0 57.5 163.2 21.1 -.9 -113.9 -93.6 -43.3 24.0 -1.1 30 31 32 33 34 -3.1 -1.7 2.2 20.2 -8.7 -26.6 11.5 -9.8 -3.4 10.7 -1.8 -3.1 -1.4 0.1 -4.7 -16.6 6.8 -.7 6.9 65.9 0.9 7.4 -.2 21.7 15.9 -41.0 5.5 3.6 9.5 16.1 -5.2 -.7 12.6 3.4 10.6 -21.9 7.0 -7.4 12.0 -1.7 -8.6 2.5 -16.0 5.7 -.9 -2.3 21.6 21.3 -10.8 3.0 3.5 -2.9 -9.8 -3.8 4.4 35 36 37 38 39 40.5 6.6 7.7 2.2 2.2 -21.9 -8.4 -13.5 1.8 0.8 -.7 57.8 -18.3 1.4 11.1 -l.l -14.6 37.8 1.6 -1.8 -3.2 3.1 -3.6 2.3 56.5 -3.7 -7.1 8.9 2.9 7.5 9.1 70.4 5.6 3.4 44.6 2.7 10.5 -5.1 3.7 -39.5 4.0 -4.9 0.9 3.9 -9.2 0.3 37.7 16.3 4.1 58.3 0.4 45.0 -8.2 4.4 40 1.8 -50.4 -89.3 -52.6 8.4 -101.5 -97.6 -18.4 36.4 -87.6 -173.7 X BILLIONS OF DOLLARS. 69.0 Net change in liabilities 8.5 Nonfarm noncorp. business U.S. government -4.4 0.2 Govt.-spons. enterprises 22.8 Rest of the world 15.4 Monetary authority -10.9 Net change in assets Nonfarm noncorp. business -1.7 -10.9 Nonfin. corporate business -12.0 U.S. government -12.7 Govt.-spons. enterprises 118.5 Rast of the world 2.4 Monetary authority 12 13 14 15 16 17 18 19 20 21 22 23 24 Commercial banking U.S.-chartered banks Foreign banking off. in US Bank holding companies Banks in U.S.-aff. areas 25 26 27 28 29 -17.0 -16.6 21.7 11.7 30.7 Savings institutions Credit unions Life insurance companies Private pension funds St.Sloc. govt. rtr. funds 30 31 32 33 34 -13.3 0.3 -7.6 4.8 4.7 Finance companies REITs Money market mutual funds Brokers and dealers Bank personal trusts 35 36 37 38 39 79.9 Discrepancy 40 DECEMBER 7, 1994 Discrepancies Discrepancies F.9-F.10 Discrepancies 65 ANNUAL FLOWS ANNUAL FLOWS 1982 1983 1984 1985 1987 1986 1988 1989 1990 1991 1992 1993 F.9 Sectors 1 All sectors Household sector Nonfin. corporate business State and local governments U.S. government Rest of the world 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 Financial sectors Govt.-spons. enterprises Monetary authority Commercial banking Private nonbank finance Savings institutions Credit unions Life insurance cos. Other insurance cos. Private pension funds Finance companies REITs Brokers and dealers 21.1 6.2 -11.7 -3.2 6.9 32.4 -20.3 -50.7 34.2 -6.4 -1.8 10.3 28.7 -1.2 16.0 6.0 7.5 15.0 -8.0 -45.6 26.7 -6.0 16.7 16.1 -58.0 -83.2 37.1 -19.4 21.9 20.4 -54.7 -71.3 72.4 -3.3 -1.0 -16.5 -.9 -46.4 58.4 -17.6 34.1 -22.9 -12.8 -112.7 58.4 3.1 43.4 39.7 -44.4 -89.0 46.7 -6.1 -5.1 26.6 -12.6 -39.6 36.4 8.6 27.4 -54.7 8.4 -62.2 32.8 -10.5 45.7 -28.5 32.2 -18.0 34.0 2.8 17.4 9.5 -9.6 0.7 -.2 N -5.9 -.5 0.1 8.1 -14.7 -1.3 0.1 4.3 -15.9 -.1 -1.8 0.7 -34.8 -2.0 -2.6 -2.7 -34.9 -1.4 -2.4 8.4 -6.6 -1.2 * 24.8 -44.7 -1.0 -1.8 -20.9 -17,6 -1.4 -2.6 -9.1 9.4 -1.1 -1.0 18.0 31.1 -2.2 0.3 26.6 -13.4 -3.2 -10.1 -4.6 -1.0 0.3 -.2 -1.3 -3.3 0.2 -.2 -13.6 -1.5 -.5 -2.6 -3.1 -2.3 -3.7 0.4 -.2 -17.8 -.6 -1.1 -2.6 -2.4 -3.6 -5.9 -1.3 -.2 -14.7 0.4 -1.1 -6.3 4.1 -3.6 -8.3 0.4 -.3 -27.6 -3.1 -1.2 -9.6 -2.5 -4.0 -8.5 1.3 -39.6 -3.5 -1.5 -21.6 -1.6 -4.5 -6.8 -.2 0.1 -30.3 -2.0 -1.6 -1.8 -10.9 -3.8 -12.0 2.0 -.1 -20.9 8.7 -1.8 -5.8 -5.6 -4.4 -11.0 -.9 -.1 -4.5 26.0 -1.6 -15.7 -2.7 -3.7 -8.0 1.5 -.2 -6.5 20.5 -1.6 -6.4 -16.3 -3.1 -1.4 1.8 6.3 18.4 -2.9 7.5 -7.9 -3.6 -6.4 1.1 0.1 -26.3 7.0 -3.8 -5.6 -23.7 -3.6 -6.9 10.6 -.3 11 12 13 14 15 16 17 18 19 N K I 2 3 4 5 6 7 8 9 16.0 10 K F .10 Transactions 1 All types Treasury currency 2 3 Interbank claims 4 Security RPs 21.1 -.2 -1.1 1.3 -20.3 -.2 -10.9 -13.6 28.7 -.1 5.5 -3.3 -8.0 -.2 5.3 -7.2 -58.0 -2.8 12.6 -54.7 -.1 -4.0 -23.8 -.9 -.1 -3.0 -24.6 -12.8 -.2 -4.4 32.4 -44.4 0.2 1.6 -24.0 -12.6 -.6 26.2 6.2 8.4 -.2 -4.9 27.9 32.2 -.2 4.2 81.1 I 2 3 4 Mail floats: U.S. government Other 0.3 -1.8 1.6 2.6 0.5 -1.9 1.3 0.8 -.6 -8.9 w 0.4 1.6 0.8 8.4 -2.2 3.3 8.5 -13.1 4.5 0.7 1.6 -1.5 -1.3 5 6 Trade credit Taxes payable Miscellaneous NIPA 10.7 6.1 -1.6 7.4 -21.3 -3.4 35.1 -10.2 -18.6 2.8 34.5 9.2 -3.0 0.9 -19.8 13.9 -8.6 3.0 -51.4 -1.3 -10.8 6.7 -47.8 24.8 -15.1 6.3 4.6 28.5 7.0 2.7 -55.6 -.9 9.1 0.1 -35.4 -7.8 9.7 1.3 -45.3 -1.5 4.1 14.0 -46.0 11.1 16.5 7 1.0 8 -45.3 9 -22.3 10 -7.4 - 10.2 - -9.2 - -13.9 - 1.3 - -24.8 - -28.5 - 0.9 - 7.8 - 1.5 - 8.9 -20.0 2.3 ll 20.0 12 5 6 7 8 9 10 11 12 NIPA components: Statistical discrepancy Pvt. wage accr. less disb. BILLIONS OF DOLLARS. N DECEMBER 7, 1994 Discrepancies Discrepancies F.9-F.10 Discrepancies 66 SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES 1991 IV I 1 1992 I II III IV I I 1993 I II III IV I 1 I 1994 II III F.9 Sectors 1 2 3 4 5 6 -36.6 -4.1 22.0 18.5 -18.0 -55.0 -56.4 -88.6 28.4 -2.0 66.4 -47.0 -15.5 -67.3 42.0 -12.9 20.4 -83.1 26.8 -41.5 8.6 -10.9 27.5 -16.7 78.6 -51.3 51.9 -16.1 68.3 32.8 -23.1 -27.2 17.3 -38.3 51.8 12.7 -127.3 18.4 -7.3 68.9 25.4 63.2 17.7 50.5 7.1 13.9 -46.3 76.1 64.7 49.5 11.4 25.0 7.0 -103.2 -137.1 4.8 -6.0 59.1 -71.0 -23.8 -92.8 4.8 2.9 45.7 -26.9 7 8 9 10 0.1 M 4.8 3.4 -13.8 -.7 -1.1 -11.7 85.4 -4.1 -5.4 91.2 59.8 -1.2 6.6 40.5 -7.0 -2.9 1.3 -13.4 -26.8 -4.0 -1.0 12.0 34.5 -2.3 1.3 52.7 20.3 -3.6 -2.4 36.6 -81.6 -2.8 2.4 -37.1 46.9 -3.7 -4.0 82.0 42.4 -3.0 -.4 53.2 63.2 -1.7 0.8 70.1 11 12 13 14 15 16 17 18 19 -8.0 18.1 -2.0 -6.0 -11.1 -2.9 -6.4 2.0 0.3 -.3 17.7 -1.1 7.4 -9.7 -3.3 -9.4 -1.8 -.2 3.6 17,8 -3.8 8.6 -5.8 -3.5 -9.8 -.2 0.4 13.9 23.7 -3.7 9.1 -7.5 -4.2 -5.1 1.4 0.1 8.1 14.2 -2.8 4.8 -8.7 -3.2 -1.1 5.0 * -33.8 6.1 -4.3 -23.2 -17.3 -3.3 0.1 8.0 M -17.1 7.6 -3.8 4.4 -24.8 -3.5 -9.2 12.2 0.1 -10.2 7.6 -4.2 15.5 -31.2 -3.6 -5.6 12.7 -1.4 -44.0 6.6 -3.0 -19.1 -21.3 -4.0 -13.0 9.6 0.3 -27.3 7.0 -2.5 -ll.S -28.3 -3.8 3.6 8.4 -7.3 7.6 -2.7 17.2 -16.9 -3.7 -18.4 9.0 0.5 -6.0 6.1 -4.0 5.8 -14.7 -3.9 -.7 4.9 0.5 181.8 All types X Treasury currency 11.4 Interbank claims 63.8 Security RPs 1 2 3 4 5 6 181.8 AH sectors Household sector 78.6 Nonfin. corporate business 18.3 -4.0 State and local governments 48.4 U.S. government -22.7 Rest of the world Financial sectors Govt.-spons. enterprises Monetary authority Commercial banking Private nonbank finance Savings institutions Credit unions Life insurance cos. Other insurance cos. Private pension funds Finance companies REITs Brokers and dealers 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 F.10 Transactions 1 2 3 4 -36.6 -.1 12.8 50.3 -56.4 -.3 1.2 -21.2 -15.5 -.2 -13.1 98.5 26.8 -.2 -2.0 25.2 78.6 -.1 -5.5 8.9 -23.1 -.2 2.7 179.6 12.7 -.2 0.5 60.8 63.2 -.2 -10.4 66.6 76.1 -.2 24.0 17.3 -103.2 -.2 -29.1 7.1 -23.8 -.2 5.3 119.1 5 6 -92.8 -5.8 14.8 13.9 -11.2 1.5 10.8 -11.3 -11.8 2.2 4.7 -2.0 2.9 8.3 2.1 -5,2 -15.5 -6.2 -2.4 0.6 0.3 -1.1 14.7 -6.2 Mail floats: U.S. government Other 7 8 9 10 -6.1 1.4 1.8 1.9 -19.2 6.8 -50.4 -2.0 0.5 9.4 -89.3 -11.5 30.3 30.4 -52.6 -3.9 5.0 9.5 8.4 61.9 5.8 -6.9 -101 .5 -105.2 25.7 18.2 -97.6 -5.9 22.2 1.2 -18.4 5.4 12.5 -8.6 36.4 16.5 -27.0 -.7 -87.6 36.2 -10.3 12.4 -173.7 24.3 -2.2 -1.4 79.9 21.7 Trade credit Taxes oayable Miscellaneous NIPA 11 12 -1.9 - 2.0 - 11.5 - 3.9 - 18.1 -80.0 25.2 80.0 5.9 - -5.4 - -16.5 - -36.2 - -24.3 - -21.7 - BILLIONS OF DOLLARS. NIPA components: Statistical discrepancy Pvt. wage accr. less disb. 7 8 9 10 11 12 Credit Market Debt Credit Market Debt L.2-L.4 Credit Market Debt 67 LEVELS, 1979-1990 LEVELS, 1979-1990 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 L.2 Credit Market Debt Owed by Nonfinancial Sectors 1 Domestic 2 3 4 U.S. sovernment Treasury securities Budget agency secur.Smtgs. 5 6 7 Private, by transaction Tax-exempt securities Corporate bonds 8 9 10 11 12 Mortgages Home Multifamily Commercial Farm 13 14 15 16 Consumer credit Bank loans n.e.c. Commercial paper Other 17 18 19 20 21 22 23 Private, by sector Household sector Nonfinancial business Farm Nonfarm noncorporate Corporate State and local govts. 24 25 26 27 28 Foreign credit market debt held in U.S. Bonds Bank loans n.e.c. Commercial paper U.S. govt, and other loans 29 Domestic and foreign 3579.0 3923.8 4305.0 4707.8 5273.0 6036.0 6971.5 7817.3 8561.6 9312.6 10070.4 10712.6 1 657.7 652.1 5.6 735.0 730.0 5.0 820.5 815.9 4.5 981.8 978.1 3.7 1167.0 1163.4 3.6 1364.2 1360.8 3.4 1589.9 1586.6 3.3 1805.9 1802.2 3.6 1949.8 1944.6 5.2 2104.9 2082.3 22.6 2251.2 2227.0 24.2 2498.1 2465.8 32.4 2 3 4 2921.4 341.5 337.9 3188.8 365.4 365.6 3484.5 398.3 390.3 3726.1 451.3 421.0 4106.0 505.7 447.0 4671.8 564.4 495.1 5381.6 744.6 578.2 6011.4 787.0 705.4 6611.8 862.5 784.1 7207.7 921.4 887.2 7819.2 991.2 961.1 8214.5 1039.9 1008.2 5 6 7 1316.3 861.0 133.6 235.0 86.8 1457.9 965.1 141.2 254.2 97.5 1564.3 1039.8 141.1 276.2 107.2 1638.8 1081.8 144.8 300.9 111.3 1826.4 1199.4 160.0 353.4 113.7 2051.8 1335.0 184.7 419.6 112.4 2309.7 1504.6 214.6 484.7 105.9 2612.7 1707.1 250.3 559.5 95.2 2960.3 1936.1 275.0 661.4 87.7 3246.9 2171.0 292.5 700.4 83.0 3545.2 2407.3 305.3 751.7 80.5 3758.5 8 2616.3 9 307.9 10 755.4 11 78.9 12 350.6 329.8 24.5 220.7 355.4 365.0 28.0 251.5 372.3 413.5 42.7 303.0 388.7 465.7 37.6 322.9 437.6 490.9 36.8 361.5 519.3 547.3 58.5 435.5 601.6 592.1 72.2 483.2 659.1 647.6 62.9 536.9 692.0 659.7 73.8 579.4 742.1 697.9 85.7 626.5 796.4 733.7 107.1 684.4 812.4 726.9 116.9 751.8 13 14 15 16 2921.4 1270.1 1351.8 145.7 385.5 820.6 299.5 3188.8 1391.1 1487.3 161.5 440.2 885.6 310.4 3484.5 1499.7 1658.1 177.8 481.7 998.6 326.7 3726.1 1568.1 1300.8 184.5 552.8 1063.5 357.1 4106.0 1733.4 1980.8 188.4 625.0 1167.4 391.7 4671.8 1950.9 2293.5 187.9 736.6 1363.9 427.4 5381.6 2242.7 2S75.8 173.4 859.9 1542.5 563.0 6011.4 2504.5 2889.0 156.0 958.9 1774.1 618.0 6611.8 2770.7 3148.1 144.4 1033.9 1969.9 693.0 7207.7 3073.6 3399.5 133.7 1096.8 2169.0 734.5 7819.2 3379.6 3637.0 134.4 1136.9 2365.7 802.5 8214.5 3614.3 3751.7 135.4 1147.0 2469.2 848.6 17 18 19 20 21 22 23 172.9 47.8 53.0 4.6 67.6 197.2 49.0 64.8 7.0 76.5 220.7 54.5 67.8 10.8 87.5 210.4 61.1 33.8 15.1 100.5 227.7 64.2 37.4 21.5 104.6 235.5 68.0 30.8 27.7 109.0 236.7 71.8 27.9 33.9 103.0 238.3 74.9 26.9 37.4 99.1 245.0 82.3 23.3 41.2 98.2 251.4 89.2 21.5 49.9 90.7 261.2 94.1 21.4 63.0 82.7 285.0 115.4 18.5 75.3 75.7 24 25 26 27 28 3751.9 4121.1 4525.7 4918.2 5500.7 6271.5 7208.2 8055.6 8806.6 9563.9 10331.6 10997.5 29 L.3 Credit Market Debt Owed by Financial Sectors 505.9 578.9 682.4 778.1 880.3 1049.3 1254.2 1588.7 1890.2 2139.8 2393.4 2599.5 1 2 3 4 5 U.S. government-related GSE securities Mortgage pool securities Loans from U.S. government 231.8 135.5 94.8 1.5 276.6 159.9 114.0 2.7 324.0 190.4 129.0 4.6 388.9 205.4 178.5 5.0 456.7 206.8 244.9 5.0 531.2 237.2 289.0 5.0 632.7 257.8 368.9 6.1 810.3 273.0 531.6 5.7 978.6 303.2 670.4 5.0 1098.4 348.1 745.3 5.0 1247.8 373.3 869.5 5.0 1418.4 393.7 1019.9 4.9 2 3 4 5 6 7 8 9 10 11 Private financial sectors Corporate bonds Mortgages Bank loans n.e.c. Open market paper Fed. Home Loan Bank loans 274.1 86.4 2.0 28.0 115.9 41.8 302.3 93.8 1.9 28.7 128.8 49.0 358.3 98.9 1.9 30.8 161.5 65.2 389.2 113.7 2.0 33.3 174.2 66.0 423.6 131.3 2.1 35.8 195.5 59.0 518.1 176.6 2.5 44.8 219.5 74.6 621.5 233.1 2.5 44.6 252.4 88.3 778.4 325.4 2.3 56.9 284.6 108.6 911.7 404.0 3.1 48.6 322.9 133.1 1041.4 456.1 3.4 51.4 377.7 152.8 1145.6 526.1 3.7 64.9 409.1 141.8 1181.1 6 572.4 7 4.3 8 69.6 9 417.7 10 117.1 11 1 By transaction 505.9 578.9 682.4 778.1 880.3 1049.3 1254.2 1588.7 1890.2 2139.3 2393.4 2599.5 12 13 14 Govt.-sponsored enterprises Fed. related mortgage pools 137.0 94.8 162.6 114.0 195.0 129.0 210.4 178.5 211.8 244.9 242.2 289.0 263.9 363.9 278.7 531.6 308.2 670.4 353.1 745.3 378.3 869.5 398.5 13 1019.9 14 15 16 17 18 19 20 21 22 23 24 25 26 Private financial sectors Commercial banks Bank holding companies Funding corporations Savings institutions Credit unions Life insurance companies Finance companies Mortgage companies REITs Brokers and dealers ABS issuers 274.1 40.2 36.1 47.9 132.6 12.1 5.1 - 302.3 48.5 42.8 12.5 55.4 126.9 11.6 4.6 - 358.3 60.1 52.8 16.8 71.4 141.6 11.8 3.7 - 389.2 71.8 60.1 22.3 72.5 144.9 13.4 3.7 - 423.6 76.8 73.5 25.9 518.1 84.1 89.5 27.1 89.5 183.6 15.5 4.2 1.1 23.4 621.5 79.2 106.2 38.7 110.2 224.3 16.7 5.5 1.3 39.4 778.4 75.6 116.8 58.7 134.3 275.9 25.7 6.7 3.-4 81.4 911.7 81.3 131.1 79.7 162.6 299.1 14.5 8.3 3.2 131.3 1041.4 78.8 136.2 117.8 184.3 323.0 14.5 10.3 7.5 169.0 1145.6 77.4 142.5 130.3 169.2 350.4 24.6 11.6 13.8 225.8 12 By sector ■ 66.1 159.7 14.0 3.5 0.4 3.7 1181.1 76.7 114.8 145.7 374.4 24.6 12.4 15.3 278.1 15 16 17 18 19 20 21 22 23 24 25 26 9644.3 10696.8 11703.7 12725.0 13597.1 2610.4 2923.4 3198.3 3494.1 3911.7 787.0 921.4 862.5 991.2 1039.9 1105.6 1270.4 1432.6 1581.3 1696.0 2615.5 2963.5 3250.3 3549.0 3762.9 1 2 3 4 5 139.1 L.4 Credit Market Debt, All Sectors , by Transaction 4257.8 887.3 341.5 472.1 1318.9 4699.9 1008.3 365.4 508.4 1460.4 5208.0 1139.5 398.3 543.7 1566.7 5696.3 1365.4 451.3 595.8 1641.2 6381.0 1613.4 505.7 642.5 1828.8 7320.8 1390.3 564.4 739.7 2054.4 8462.4 2216.5 744.6 883.1 2312.3 350.6 410.8 145.0 331.6 355.4 458.5 163.8 379.7 372.3 512.2 215.1 460.4 388.7 532.8 226.8 494.4 437.6 564.2 253.8 530.0 519.3 622.9 305.7 624.1 601.6 664.6 358.5 681.2 659.1 731.5 384.9 750.3 692.0 731.6 437.9 815.6 742.1 770.8 513.4 875.0 796.4 819.9 579.2 913.9 812.4 815.0 609.9 949.4 6 7 8 9 Selected claims not included above: 48.0 Security credit 428.1 Trade credit 51.8 Mutual fund shares 1175.2 Corporate equities 61.9 482.0 61.8 1534.7 64.0 520.5 59.8 1422.6 69.8 526.1 76.9 1611.2 83.4 570.5 112.1 1919.8 87.9 616.1 136.7 1850.9 131.2 664.2 240.2 2360.3 141.1 691.7 413.5 2763.4 115.3 748.8 460.1 2778.9 118.3 837.1 478.3 3098.9 133.9 905.3 566.2 3809.7 137.4 942.2 602.1 3530.2 10 11 12 13 1 Total U.S. government securities 2 Tax-exempt securities 3 4 Corporate and foreign bonds 5 Mortgages 6 7 8 9 Consumer credit Bank Loans n.e.c. Open market paper Other loans Memo: 10 11 12 13 BILLIONS OF DOLLARS, END OF PERIOD DECEMBER 7, 1994 Credit Market Debt Credit Market Debt L.2-L.4 Credit Market Debt 68 LEVELS, 1991-1994 LEVELS, 1991-1994 1991 IV 1992 J I I II III IV I 1 1993 I II III IV I 1 I 1994 II III L.2 Credit Market Debt Owed by Nonfinancial Sectors 1 11181.5 11300.7 11434.6 11569.4 11720.7 11816.1 12008.9 12155.3 12363.1 12485.5 12629.7 12775.0 Domestic 1 2 3 4 2776.4 2757.8 18.6 2859.7 2844.0 15.8 2923.3 2907.4 15.9 2998.9 2980.7 18.1 3080.3 3061.6 18.8 3140.2 3120.6 19.6 3201.2 3180.6 20.6 3247.3 3222.6 24.7 3336.5 3309.9 26.6 3387.7 3361.4 26.3 3395.5 3368.0 27.5 3432.5 3403.9 28.6 U.S. government Treasury securities Budget agency secur.Smtgs. 2 3 4 5 6 7 8405.1 1108.6 1086.9 8440.9 1118.1 1106.1 8511.2 1139.6 1125.5 8570.5 1142.7 1140.9 8640.4 1139.7 1154.4 8675.9 1160.7 1175.9 8807.7 1202.2 1194.8 8908.1 1210.0 1212.8 9026.6 1217.8 1229.6 9097.8 1222.3 1238.4 9234.3 1229.5 1248.1 9342.5 1209.9 1254.3 Private, by transaction Tax-exempt securities Corporate bonds 5 6 7 8 9 10 11 12 3920.0 2780.0 304.8 755.8 79.3 3954.1 2823.5 307.4 744.1 79.2 3977.7 2857.2 303.1 737.6 79.8 4019.3 2915.4 300.3 723.1 80.5 4043.9 2959.6 293.6 710.3 80.4 4061.5 2979.3 292.3 709.2 80.8 4109.9 3038.1 289.4 701.4 81.0 4166.6 3098.3 288.2 699.0 81.1 4206.5 3147.3 287.5 690.6 81.2 4230.5 3178.4 286.0 684.7 81.4 4281.5 3225.1 287.1 686.5 82.9 4337.4 3276.0 288.8 688.7 83.3 13 14 15 16 797.4 686.0 98.5 707.8 775.2 670.6 110.4 706.4 773.4 671.0 112.0 712.0 781.4 663.1 108.2 714.8 803.0 672.1 107.1 720.2 788.2 660.9 113.9 714.9 800.2 666.3 124.0 710.2 824.3 665.6 123.2 705.5 866.5 677.2 117.8 711.1 863.6 688.8 129.9 724.3 895.3 712.6 135.7 731.4 932.1 732.7 138.7 737.5 17 18 19 20 21 22 23 8405.1 3784.7 3709.3 135.0 1116.4 2458.0 911.1 8440.9 8511.2 3806.7 385J.6 3715.4 v3723.7 132.6 136.5 1111.9 1101.1 2470.9 2486.1 913.9 935.9 8570.5 3923.5 3710.9 137.9 1086.8 2486.2 936.2 8640.4 4002.3 3710.5 136.0 1074.1 2500.4 927.5 8675.9 4012.6 3715.7 133.4 1067.2 2515.1 947.6 8807.7 4093.0 3729.8 136.7 1059.4 2533.7 984.9 3908.1 4190.9 3729.1 138.7 1052.2 2538.3 988.0 9026.6 4292.0 3741.5 138.3 1049.1 2554.1 993.2 9097.8 4330.4 3772.9 136.7 1050.4 2585.7 994.4 9234.3 4420.7 3816.4 142.4 1055.1 2618.9 997.2 9342.5 4518.5 3848.4 144.3 1061.2 2642.9 975.7 24 25 26 27 28 298.8 129.5 21.6 81.8 65.9 309.2 137.5 26.5 80.7 64.5 310.9 143.9 23.9 77.7 65.3 319.8 160.6 24.3 72.3 62.7 332.0 171.9 25.9 72.1 62.0 351.3 '193.0 26.2 71.7 60.3 357.8 203.4 24.6 68.7 61.1 340.3 210.6 26.2 43.3 60.3 341.2 213,4 26.0 42.0 59.9 339.0 215.0 26.2 39.9 57.8 287.8 129.8 22.0 70.5 65.6 303.0 134.4 25.5 77.4 65.7 Mortgages Home Multifamily Commercial Farm 8 9 10 11 12 Consumer credit Bank loans n.e.c. Commercial paper Other 13 14 15 16 Private, by sector Household sector Nonfinancial business Farm Nonfarm noncorporate Corporate State and local govts. 17 18 19 20 21 22 23 Foreign credit market debt held in U.S. Bonds Bank loans n.e.c. Commercial paper U.S. govt, and other loans 24 25 26 27 28 29 11480.3 11588.5 11737.6 11878.5 12031.6 12135.9 12340.9 12506.6 12720.8 12825.8 12971.0 13114.0 Domestic and foreign 29 L.3 Credit Market Debt Owed by Financial Sectors 1 2752.1 2806.4 2874.9 2949.6 3004.7 3047.0 3096.6 3204.7 3297.3 3412.3 3492.5 3577.1 By transaction 2075.9 633.3 1437.6 - U.S. government-related GSE securities Mortgage pool securities Loans from U.S. government 2 3 4 5 Private financial sectors Corporate bonds Mortgages Bank loans n.e.c. Open market paper Fed. Home Loan 3ank loans 6 7 8 9 10 11 I 2 3 4 5 1564.2 402.9 1156.5 4.8 1590.3 405.7 1179.8 4.3 1641.6 417.8 1219.0 4.8 1683.5 434.7 1244.0 4.8 1720.0 443.1 1272.0 4.8 1755.8 451.2 1299.3 4.8 1774.5 468.4 1301.3 4.8 1845.2 510.3 1330.1 4.8 1881.1 523.7 1352.6 4.3 1954.5 563.7 1390.8 - 2021.1 600.3 1420.3 - 6 7 8 9 10 11 1187.9 640.0 4.8 78.4 385.7 79.1 1216.1 659.7 5.0 81.8 393.2 76.3 1233.2 680.5 5.0 80.3 390.5 76.9 1266.1 701.5 5.1 84.6 394.6 80.2 1284.8 724.3 5.4 80.5 394.3 79.9 1291.3 751.0 5.7 70.3 379.3 85.0 1322.2 774.8 6.0 73.3 375.9 92.1 1359.5 810.5 7.6 69.2 373.2 98.9 1416.1 844.1 3.9 66.5 393.5 103.1 1457.9 879.3 9.0 60.3 408.8 100.4 1471.4 895.0 9.1 48.9 409.9 108.5 1501.1 911.1 9.2 44.5 420.1 116.2 12 2752.1 2806.4 2874.9 2949.6 3004.7 3047.0 3096.6 3204.7 3297.3 3412.3 3492.5 3577.1 By sector 12 13 14 407.7 1156.5 410.5 1179.8 422.6 1219.0 439.5 1244.0 447.9 1272.0 456.0 1299.8 473.2 1301.3 515.1 1330.1 528.5 1352.6 563.7 1390.8 600.3 1420.3 638.3 1437.6 Govt.-sponsored enterprises Fed. related mortgage pools 13 14 15 16 17 18 19 20 21 22 23 24 25 26 1187.9 65.0 112.3 139.1 94.6 393.0 22.2 13.6 19.0 329.1 1216.1 63.8 115.0 156.0 89.8 ft 382.2 29.0 14.4 19.7 346.1 1233.2 66.2 112.7 164.5 87.6 ft 377.4 28.2 14.8 23.1 358.3 1266.1 69.0 114.4 166.2 89.2 ft ft 382.7 31.8 15.3 22.7 374.8 1284.8 73.8 114.6 161.6 87.8 » N 339.4 30.2 13.9 21.7 391.7 1291.3 73.1 119.9 162.2 90.3 » ft 381.3 23.9 14.0 19.3 407.2 1322.2 76.6 120.2 166.5 93.4 0.1 0.2 373.3 32.0 14.4 22.8 422.3 1359.5 77.9 120.3 166.3 96.8 0.2 0.1 330.0 31.8 15.8 26.4 443.8 1416.1 79.5 123.4 169.9 99.0 0.2 0.2 390.5 29.2 17.4 33.7 473.2 1457.9 78.4 124.2 190.4 97.6 0.3 0.3 401.9 22.3 17.7 31.3 493.6 1471.4 32.1 126.3 191 . 1 99.0 0.3 0.3 414.2 14.0 18.3 31.3 494.6 1501.1 87.5 129.2 200.3 102.7 0.4 0.3 420.9 11.5 18.8 29.4 500.2 Private financial sectors Commercial banks Bank holding companies Funding corporations Savings institutions Credit unions Life insurance companies Finance companies Mortgage companies REITs Brokers and dealers ABS issuers 15 16 17 18 19 20 21 22 23 24 25 26 L.4 Credit Market Debt, All Sectors, by Transaction 1 14232.3 14394.8 14612.4 14828.2 15036.3 15183.0 15437.5 15711.3 16018.1 16238.1 16463.5 16691.0 Total 4677.6 4795.5 4891.2 4970.9 5087.7 5212.8 5342.2 5416.5 5508.3 U.S. government securities 2 4335.7 4^45.2 4560.1 1222.3 1229.5 1209.9 1139.6 1142.7 1139.7 1160.7 1202.2 1210.0 1217.8 Tax-exempt securities 1118.1 1108.6 3 2087.4 2141.5 2216.3 2277.0 2328.3 2356.5 2380.4 Corporate and foreign bonds 1895.6 1940.5 1979.9 2023.1 1856.5 4 Mortgages 3982.8 4024.5 4049.3 4067.2 4116.0 4174.2 4215.5 4239.5 4290.6 4346.6 5 3924.8 3959.1 6 7 8 9 797.4 785.9 565.9 857.5 775.2 774.4 574.1 853.1 773.4 776.8 579.9 859.4 781.4 774.2 583.6 864.3 803.0 776.6 579.0 870.2 788.2 755.4 565.5 867.4 800.2 765.5 572.0 869.1 824.3 761.0 568.2 869.6 866.5 768.4 580.0 880.1 863.6 775.4 532.0 884.9 895.3 787.5 587.5 899.8 Consumer credit Bank loans n.e.c. Open market paper Other loans 932.1 803.5 598.7 911.5 1 2 3 4 5 6 7 8 9 Memo: 10 11 12, 13 188.9 935.9 313.9 4863.6 194.6 931.5 860.4 4925.5 193.3 941.7 924.4 4841.5 214.5 962.0 965.6 5004.2 BILLIONS OF DOLLARS, END OF PERIOD 217.3 977.4 1042.1 5462.9 225.0 976.9 1134.6 5647.3 234.7 989.7 1225.8 5683.7 254.5 1009.6 1342.4 5941.7 279.3 1026.4 1429.3 6186.5 282.7 1022.3 1439.0 6052.2 278.1 1039.5 1443.1 5877.7 Selected 263.2 1062.5 1563.7 6135.1 claims not included above: Security credit Trade credit Mutual fund shares Corporate equities 10 11 12 13 DECEMBER 7, 1994 Total Claims Total Claims L.6-L.7 Total Claims 69 LEVELS, 1979-1990 LEVELS, 1979-1990 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 L.6 Credit Market Debt Outstanding (1) 4257.8 3579.0 657.7 2921.4 1270.1 145.7 385.5 820.6 299.5 4699.9 3923.8 735.0 3188.8 1391.1 161.5 440.2 885.6 310.4 5208.0 4305.0 820.5 3484.5 1499.7 177.8 481.7 998.6 326.7 5696.3 4707.8 981.8 3726.1 1568.1 184.5 552.8 1063.5 357.1 6381.0 5273.0 1167.0 4106.0 1733.4 188.4 625.0 1167.4 391.7 7320.8 6036.0 1364.2 4671.8 1950.9 187.9 736.6 1368.9 427.4 8462.4 6971.5 1589.9 5381.6 2242.7 173.4 859.9 1542.5 563.0 9644.3 10696.8 11703.7 12725.0 13597.1 7817.3 8561.6 9312.6 10070.4 10712.6 1805.9 1949.8 2104.9 2251.2 2498.1 6011.4 6611.8 7207.7 7819.2 8214.5 2504.5 2770.7 3073.6 3379.6 3614.3 156.0 144.4 134.4 133.7 135.4 958.9 1033.9 1096.8 1136.9 1147.0 1774.1 1969.9 2169.0 2365.7 2469.2 618.0 848.6 693.0 802.5 734.5 1 2 3 4 5 6 7 8 9 172.9 505.9 137.0 94.8 40.2 36.1 47.9 132.6 12.1 5.1 - 197.2 578.9 162.6 114.0 48.5 42.8 12.5 55.4 126.9 11.6 4.6 - 220.7 682.4 195.0 129.0 60.1 52.8 16.8 71.4 141.6 11.8 3.7 - 210.4 778.1 210.4 178.5 71.8 60.1 22.8 72.5 144.9 13.4 3.7 - 227.7 880.3 211.8 244.9 76.8 73.5 25.9 66.1 159.7 14.0 3.5 0.4 3.7 235.5 1049.3 242.2 289.0 84.1 89.5 27.1 89.5 183.6 15.5 4.2 1.1 23.4 236.7 1254.2 263.9 368.9 79.2 106.2 38.7 110.2 224.3 16.7 5.5 1.3 39.4 238.3 1588.7 278.7 531.6 75.6 116.8 58.7 134.3 275.9 25.7 6.7 3.4 81.4 251.4 2139.8 353.1 745.3 78.8 136.2 117.8 184.3 323.0 14.5 10.3 7.5 169.0 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Tot. cred. mkt. assets held by 25 Private dom. nonfin. sectors 26 Household sector Nonfarm noncorp, business 27 28 Nonfin. corporate business State & local governments 29 30 U.S. government 4257.8 642.4 416.8 14.7 71.8 139.1 140.0 4699.9 691.5 461.2 14.9 70.9 144.4 163.8 5208.0 751.2 493.0 23.7 80.8 153.6 187.8 5696.3 834.0 527.2 28.2 101.6 177.1 203.6 6381.0 994.9 627.2 35.3 119.5 212.9 213.2 7320.8 1125.5 712.4 44.8 129.9 238.3 230.1 8462.4 1403.5 861.8 49.7 134.3 362.3 248.6 9644.3 10696.8 11703.7 12725.0 13597.1 24 1436.1 1689.9 1923.8 2074.3 2260.8 25 323.8 1031.7 1237.5 1345.8 1499.3 26 53.6 47.6 50.3 69.5 47.8 27 154.6 189.6 28 179.5 173.5 193.2 404.1 524.1 29 437.1 456.5 485.3 205.4 255.2 240.5 239.0 30 213.8 31 32 33 34 35 161.0 3314.5 158.1 94.8 124.5 186.5 3658.2 184.5 114.0 128.0 217.0 4052.1 217.7 129.0 136.9 255.8 4402.8 233.7 178.5 144.5 282.5 4890.4 237.1 244.9 159.2 361.0 5604.2 266.8 289.0 167.6 436.2 6369.0 292.1 368.9 186.0 547.8 7405.2 308.9 531.6 205.5 604.0 8162.5 332.7 670.4 230.1 709.8 8856.3 365.3 745.3 240.6 918.3 31 833.3 9611.9 10179.0 32 375.6 33 361.7 369.5 1019.9 34 241.4 35 233.3 1181.8 1095.6 74.3 8.0 4.0 0.6 722.2 351.0 113.7 120.8 126.6 1289.9 1183.2 94.1 7.6 5.0 0.6 775.7 383.3 123.5 151.4 147.2 1398.2 1278.1 106.6 8.0 5.5 1.0 803.7 414.2 132.0 178.6 169.0 1482.9 1386.1 83.1 5.8 7.9 1.1 814.0 456.6 137.0 227.2 190.7 1626.1 1522.7 86.3 7.2 9.5 2.6 948.9 509.0 138.6 267.3 199.8 1800.1 1681.4 99.6 8.1 11.0 2.7 1103.7 563.1 150.3 306.9 235.7 1989.5 1346.9 117.1 11.8 13.7 3.4 1196.1 637.5 176.5 378.5 257.4 2187.6 2009.4 152.0 11.5 14.6 6.0 1304.9 724.5 219.2 446.2 305.4 2323.0 2108.6 186.2 13.5 14.7 7.6 1441.6 816.2 258.6 479.8 335.4 2479.5 2235.0 215.6 13.4 15.5 11.6 1558.1 920.2 287.9 509.0 353.0 2647.4 2371.9 242.3 16.2 17.1 19.6 1472.0 1022.0 317.5 590.2 399.0 2772.5 2466.7 270.8 13.4 21.6 35.7 1320.5 1116.5 344.0 607.4 433.9 36 37 38 39 40 41 42 43 44 45 46 167.8 16.8 15.6 3.0 24.9 4.9 3.9 83.6 181.4 16.1 18.5 3.0 41.7 4.2 6.6 88.8 204.1 16.4 21.6 2.9 106.5 2.6 20.9 96.7 212.3 18.6 26.3 3.4 137.0 2.6 36.2 100.3 237.6 19.5 36.0 3.1 119.2 2.7 25.5 3.0 109.4 273.3 21.6 54.0 2.7 164.2 3.5 54.1 21.9 123.1 319.7 24.7 122.7 4.1 178.1 5.9 58.2 36.9 132.8 362.4 36.6 245.8 7.0 212.2 5.9 66.3 78.1 151.4 409.9 23.9 271.6 11.0 214.0 7.0 39.8 126.2 163.9 448.0 29.0 283.4 28.8 224.7 7.8 23.5 162.2 177.8 468.6 49.2 307.2 35.4 291.8 8.4 103.7 217.3 197.5 497.6 49.2 360.2 35.6 372.7 7.7 106.5 268.9 213.4 47 48 49 50 51 52 53 54 55 1 Tot. cred. mkt. debt owed by: Domestic nonfinan. sectors 2 U.S. government 3 4 Private domestic Household sector 5 Farm business 6 Nonfarm noncorp. bus. 7 8 Nonfin. corporate bus. 9 State&local governments 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Rest of the world Financial sectors Govt.-spons. enterprises Fed. rel. mortgage pools Commercial banks Bank holding companies Funding corporations Thrift institutions Life Insurance companies Finance companies Mortgage companies REITs Brokers and dealers ABS issuers Rest of the world Financial sectors Govt.-spons. enterprises Fed. rel. mortgage pools Monetary authority 36 37 38 39 40 41 42 43 44 45 46 Commercial banking U.S. commercial banks Fgn. banking off. in US Bank holding companies Banks in U.S.-aff. areas Funding corporations Thrift institutions Life insurance cos. Other insurance cos. Private pension funds St.Sloe.govt. rtr. funds 47 48 49 50 51 52 53 54 55 Finance companies Mortgage companies Mutual funds Closed-end funds Money mkt. mutual funds REITs Brokers and dealers ABS issuers Bank personal trusts 245.0 1890.2 308.2 670.4 81.8 131.1 79.7 162.6 299.1 14.5 8.3 3.2 131.3 261.2 2393.4 378.3 869.5 77.4 142.5 133.3 169,2 350.4 24.6 11.6 13.8 225.8 285,0 2599.5 398.5 1019.9 76.7 114.8 145.7 139.1 374.4 24.6 12.4 15.3 278.1 (1) Excludes corporate equities and mutual fund sihares. L.7 Total Liabilities and Their Relation to Total Financial Assets 1 2 3 4 5 6 7 Total credit mkt. debt (from preceding table) Other liabilities: Official foreign exchange SDR certificates Treasury currency Life insurance reserves Pension fund reserves Interbank claims 4257.8 4699.9 5208.0 5696.3 6381.0 7320.3 8462.4 9644.3 10696.8 11703.7 12725.0 13597.1 5.1 1.8 10.5 206.7 792.0 57.7 13.0 2.5 11.1 216.4 949.3 24.7 14.8 3.3 11.5 225.6 1039.0 -25.9 17.6 4.6 11.9 232.8 1261.1 -31.1 17.6 4.6 12.3 240.8 1499.6 -32.8 18.2 4.6 12.9 246.0 1669.8 -19.9 24.8 4.7 13.3 256.7 2032.2 9.0 29.1 5.0 13.8 274.2 2411.1 36.9 24.4 5.0 14.2 300.3 2616.2 72.5 27.1 5.0 14.7 325.5 2860.7 77.1 53.6 8.5 15.3 354.3 3400.9 62.5 61.3 10.0 16.3 380.0 3484.2 95.3 2 3 4 5 6 7 1 8 9 10 11 12 13 14 Deposits at financial insts. Checkable deposits & curr. Small time & savings dep. Large time deposits Money market fund shares Security RPs Foreign deposits 1948.3 455.8 1070.2 257.4 45.2 92.7 26.9 2172.5 477.5 1154.1 316.9 76.4 116.2 31.4 2460.7 505.6 1204.0 378.6 186.2 144.6 41.8 2733.8 543.3 1342.9 395.8 219.8 176.7 55.2 3042.1 582.8 1559.6 384.6 179.4 188.6 147.3 3414.2 629.7 1710.8 471.4 233.6 224.1 144.7 3703.0 713.5 1853.4 488.5 243.8 250.6 153.2 4084.1 837.9 1978.7 492.1 292.1 298.7 184.6 4237.1 341.9 2048.5 541.9 316.1 292.7 196.1 4542.3 886.6 2187.8 595.1 338.0 318.7 218.2 4876.9 391.0 2285.5 613.0 428.1 396.5 262.9 5005.3 936.2 2349.2 546.9 498.4 37 2.3 304.3 8 9 10 11 12 13 14 15 16 17 18 19 20 Mutual fund shares Security credit Trade debt Taxes payable Inv. in bank personal trusts Miscellaneous 51.8 48.0 428.1 58.8 215.2 885.0 61.8 61.9 482.0 63.2 244.8 1029.6 59.8 64.0 520.5 56.3 248.1 1190.4 76.9 69.8 526.1 53.7 264.2 1277.0 112.1 83.4 570.5 58.4 293.2 1370.4 136.7 87.9 616.1 62.7 306.1 1482.3 240.2 131.2 664.2 63.5 358.3 1654.3 413.5 141.1 691.7 69.0 404.4 1838.9 460.1 115.3 748.8 74.5 414.2 2114.9 478.3 118.3 837.1 79.8 443.7 2382.3 566.2 133.9 905.3 82.2 515.1 2646.5 602.1 137.4 942.2 77.4 522.1 2820.4 15 16 17 18 19 20 21 Total liabilities above 8966.7 10032.9 11076.3 12194.7 13653.2 15358.4 17618.3 20057.1 21894.5 23895.5 26346.3 27751.1 21 * Financial assets not included in borrowing 18.4 Gold and SDRs 13.9 22 13.8 16.7 16.4 19.5 15.2 21.4 16.1 21.0 22.0 22 20.7 Corporate equities 23 1175.2 1534.7 1422.6 1611.2 1919.8 1850.9 2360.0 2763.4 2778.9 3098.9 3809.7 3530.2 23 24 HH equity in noncorp. bus. 1892.0 2057.8 2060.4 2109.7 2095.3 2134.4 2199.3 2306.0 1656.1 2423.3 2582.4 2529.1 24 - Floats not incl. in assets 25 Check, dep.: U.S. govt. -.5 1.7 2.7 -.1 -.8 -1.8 -2.2 -.8 6.0 6.1 5.9 15.0 25 26 Other 31.2 37.6 36.5 37.3 28.3 33.5 35.7 38.3 28.8 35.9 26 29.6 27.5 27 Trade credit -82.9 -87.9 -83.0 -78.4 -98.9 -116.9 -119.9 -128.5 -139.4 -146.5 -139.5 -130.3 27 - Liabs. not identified as assets Treasury currency 28 -2.6 -3.4 -2.8 -3.8 -3.0 -3.2 -3.5 -3.8 -4.1 28 -4.0 -4.1 -6.3 29 Interbank claims -27.4 -22.9 -11.7 -18.3 -24.5 -8.3 -17.3 -18.1 -28.1 -31.0 -32.0 29 -28.5 30 Security RPs 40.0 24.0 34.0 34.4 31.2 41.3 46.6 48.0 15.6 27.0 3.0 30 -5.5 Taxes payable 31 31.7 25.1 20.9 31.4 34.4 27.2 34.2 25.0 36.8 21.0 21.4 17.8 31 32 Miscellaneous -54.6 -56.3 -74.8 -80.8 -106.4 -134.2 -160.8 -184.8 -158.2 -245.1 -67.7 -261.2 32 Totals identified to sectors 33 as assets 11862.0 13526.6 14630.7 15934.0 17803.3 19472.1 22319.0 25271.0 27281.6 29724.2 33097.6 34188.3 33 BILLIONS OF DOLLARS, END OF PERIOD DECEMBER 7, 1994 Total Claims Total Claims L.6-L.7 Total Claims LEVELS, 70 LEVELS, 1991-1994 1991-1994 1991 I IV I 1992 1i II III IV J 1 1 1 1993 I II III IV 1994 II I III L.6 Credit Market Debt Outstanding (1) 1 14232.3 14394.8 14612,4 14328.2 15036.3 15183.0 15437.5 15711.3 16018.1 16238.1 16463.5 16691.0 Tot.. cred. mkt. debt owed by: 2 11181.5 11300.7 11434.6 11569.4 11720.7 11816.1 12008.9 12155.3 12363.1 12485.5 12629.7 12775.0 Domestic nonfinan. sectors 3 2776.4 2859.7 2923.3 2998.9 3080.3 3140.2 3201.2 3247.3 3336.5 3387.7 3395.5 3432.5 U.S. government 4 8405.1 8440.9 8511.2 8570.5 8640.4 8675.9 8807.7 8908.1 9026.6 9097.8 9234.3 9342.5 Private domestic 3806.7 5 3784.7 3851.6 3923.5 4002.3 4012.6 4093.0 4190.9 4292.0 4330.4 4420,7 4518.5 Household sector 135.0 132.6 6 136.5 137.9 133.4 138.7 136.7 136.0 138.3 142.4 144.3 136.7 Farm business 1074.1 7 1116.4 1111.9 1059.4 1052.2 1049,1 1101.1 1086.8 1067.2 1050.4 1055.1 1061.2 Nonfarm noncorp. bus. 8 2458.0 2470.9 2486.1 2533.7 2538.3 2554.1 2486.2 2500.4 2515.1 2585.7 2618.9 2642.9 Nonfin. corporate bus. 911.1 918.9 9 936.2 947.6 935.9 984.9 988.0 993.2 994.4 927.5 997.2 975.7 StateSlocal governments 10 11 12 13 14 15 16 17 18 19 20 21 22 23 298.8 2752.1 407.7 1156.5 65.0 112.3 139.1 94.6 393.0 22.2 13.6 19.0 329.1 287.8 2806.4 410.5 1179.8 63.8 115.0 156.0 89.8 303.0 2874.9 422.6 1219.0 66.2 112.7 164.5 87.6 309.2 2949.6 439.5 1244.0 69.0 114.4 166.2 89.2 310.9 3004.7 447.9 1272.0 73,8 114.6 161.6 87.9 382.2 29.0 14.4 19.7 346.1 377.4 28.2 14.8 23.1 358.8 382.7 31.8 15.3 22.7 374.8 389.4 30.2 13.9 21.7 391.7 X X X X 319.8 3047.0 456.0 1299.8 73.1 119.9 162.2 9 0.3 X 381.3 23.9 14.0 19.3 407.2 332.0 3096.6 473.2 1301.3 76.6 120.2 166.5 93.5 0.2 373.3 32.0 14.4 22.8 422.3 351.3 3204.7 515.1 1330.1 77.9 120.3 166.3 97.0 0.1 380.0 31.8 15.8 26.4 443.8 357.8 3297.3 528.5 1352.6 79.5 123.4 169.9 99.2 0.2 390.5 29.2 17.4 33.7 473.2 340.3 3412.3 563.7 1390.8 78.4 124.2 190.4 97.8 0.3 401.9 22.3 17.7 31.3 493.6 341.2 3492.5 600.3 1420.8 82.1 126.3 191.1 99.3 0.3 414.2 14.0 18.3 31.3 494.6 339.0 3577.1 638.3 1437.6 87.5 129.2 200.3 103.1 0.3 420.9 11.5 18.8 29.4 500.2 Rest of the world Financial sectors Govt.-spons. enterprises Fed. ral. mortgage pools Commercial banks Bank holding companies Funding corporations Thrift institutions Life insurance companies Finance companies Mortgage companies REITs Brokers and dealers ABS issuers 1 2 3 4 5 6 7 3 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 14232.3 14394.8 14612.4 14828.2 15036.3 15183.0 15437.5 15711.3 16018.1 16238.1 16463.5 16691.0 Tot . cred. mkt. assets held by 25 2240.2 2252.8 2269.4 2249.6 2318.0 2301.4 2296.4 2285.0 2340.9 2429.1 2511.5 2562.9 Private dom. nonfin. sectors 1470.1 26 1446,5 1471.8 1462.2 1523.1 1501.8 1501.4 1488.3 1557.5 1657.1 1747.0 1826.8 Household sector 41.4 44.1 43.7 43.3 42.9 27 43.5 42.2 40.6 38.8 39.7 38.4 37.9 Nonfarm noncorp. business 194.1 28 204.6 225.4 220.1 196.2 208.6 227.3 234.7 248.1 243.7 252.5 249.6 Nonfin. corporate business 553.3 544.9 549.5 535.5 526.5 537.3 526.2 29 521.5 495.6 489.5 473.6 448.6 State S local governments 246.9 30 246.4 239.3 235.0 251.3 216.6 229.4 223.1 218.8 206.3 204.7 202.6 U .S. government 24 25 26 27 28 29 30 1017.4 1036.9 1061.8 958.1 980.6 31 1052.7 1084.0 1118.1 1175.1 1206.8 1219.1 1250.4 32 10787.2 10910.1 11079.2 11302.3 11430.6 11590.3 11834.0 12089.4 12285.5 12395.9 12528.2 12675.1 422.0 463.0 412.9 459.7 390.7 439.3 33 495.5 531.8 549.8 572.0 597.9 631.9 1219.0 1244.0 34 1179.8 1272.0 1299.8 1301.3 1330.1 1156.5 1390.8 1420.8 1437.6 1352.6 282.6 303.6 272.5 271.8 300.4 35 285.2 318.2 324.2 336.7 341.5 351.6 356.3 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 2853.3 2502.5 319.2 11.9 19.7 51.5 1192.6 1199.6 376.6 693.0 479.9 2861.3 2514.0 313.3 13.6 20.4 59.0 1167.3 1221.9 382.5 684.7 489.9 2884.7 2521.9 328.2 13.1 21.5 54.7 1149.6 1242.6 386.5 703.3 498.4 2925.5 2556.7 328.9 17.5 22.5 72.1 1140.6 1262.9 386.4 728.2 510.1 2948.6 2571.9 335.8 17.5 23.4 75.0 1134.5 1278.3 389.4 730.4 514.3 2956.6 2539.4 326.7 16.4 24.2 74.0 1124.8 1313.3 396.3 759.8 514.6 2998.8 2628.5 327.1 18.4 24.8 74.3 1129.8 1343.9 405.3 762.6 526.5 3036.4 2670.2 322.3 18.7 25.3 82.4 1136.2 1372.1 414.6 785.6 533.4 3090.8 2721.5 326.0 17.5 25.8 93.1 1132.5 1383.9 422.7 770.6 542.6 3120.2 2743.3 331.8 18.2 26.4 97.5 1134.0 1404.2 429.6 746.2 553.9 3157.1 2780.3 331.7 18.3 26.8 106.3 1145.7 1409.1 434.8 738.5 566.7 3203.1 2822.4 335.7 17.7 27.3 111.0 1157.9 1417.8 438.8 735.1 577.0 47 48 49 50 51 52 53 54 55 484.9 60.3 450.5 50.3 402.7 7.0 124.0 317.8 223.5 479.4 66.1 478.8 55.7 424.0 6.8 108.3 334.2 225.6 480.5 56.4 510.2 59.6 412.0 7.5 135.2 347.0 227.5 477.8 63.7 550.2 63.4 408.2 7.4 145.4 362.4 229.4 486.6 60.5 574.2 67.7 404.1 8.1 117.1 377.9 231.5 477.9 47.9 611.4 71.9 404.5 8.1 135.9 393.3 233.7 473.7 64.1 659.9 74.5 403.9 8.3 149.0 408.1 236.2 474.0 63.8 703.6 76.0 400.6 8.6 147.1 430.2 238.7 482.8 60.4 738.2 77.9 417.0 8.6 126.3 458.0 240.9 494.5 46.6 720.0 30.1 422.2 8.8 112.3 478.2 243.3 511.3 30.0 722.9 81.0 422.0 9.0 99.2 479.3 244.6 524.2 25.0 718.2 81.3 425.1 9.1 95.6 484.2 245.3 Rest of the world Financial sectors Govt.-spons. enterprises Fed. rel. mortgage pools Monetary authority Commercial banking U.S. commercial banks Fgn. banking off. in US Bank holding companies Banks in U.S.-aff. areas Funding corporations Thrift institutions Life insurance cos. Other insurance cos. Private pension funds St.Sloe.govt. rtr. funds 36 37 38 39 40 41 42 43 44 45 46 Finance companies Mortgage companies Mutual funds Closed-end funds Money mkt. mutual funds REITs Brokers and dealers ABS issuers Bank personal trusts 47 48 49 50 51 52 53 54 55 (1) Excludes corporate equities and mutual fund shares. L.7 Total Liabilities and Their Relation to Total Financial Assets 1 14232.3 14394.8 14612.4 14828.2 15036.3 15183.0 15437.5 15711.3 16018.1 16238.1 16463.5 16691.0 Tot3l credit mkt. debt (from preceding table) Other liabilities: Official foreign exchange SDR certificates Treasury currency Life insurance reserves Pension -und reserves Interoank claims 1 2 3 4 5 6 7 55.4 10.0 16.3 405.7 4138.3 96.4 52.7 10.0 16.3 413.1 4141.8 79.4 54.4 10.0 16.4 417.0 4207.8 90.3 55.4 10.0 16.4 426.4 4353.1 120.9 51.8 8.0 16.5 433.0 4516.5 132.8 54.5 8.0 16.6 442.6 4652.7 135.7 53.9 8.0 16.7 451.4 4710.4 144.3 55.6 8.0 16.8 463.1 4869.4 165.4 53.4 8.0 17.0 468.2 4945.1 175.2 56.4 8.0 17.1 473.2 4890.7 201.6 54.9 8.0 17.3 475.2 4880.8 223.9 55.5 8.0 17.5 481.2 5016.3 238.9 8 9 10 11 12 13 14 5044.8 1020.6 2350.7 488.4 539.6 355.8 289.6 5037.3 993.1 2347.9 475.3 572.0 368.4 280.6 5038.0 1034.5 2329.4 444.2 556.9 395.4 277.5 5077.8 1073.0 2304.8 438.8 552.9 420.0 288.3 5059.1 1134.4 2293.5 415.2 543.6 392.3 280.1 5055.3 1089.1 2275.7 410.6 556.6 446.2 277.1 5097.1 1168.0 2255.0 401.1 549.8 450.4 272.8 5088.5 1181.9 2236.6 389.4 547.9 472.5 260.2 5141.3 1251.7 2223.2 391.7 559.4 457.8 258.0 5155.8 1220.5 2233.3 382.6 532.4 472.4 264.3 5182.8 1229.3 2214.7 373.9 576.4 510.3 273.2 5201.3 1206.5 2198.3 402.0 586.1 534.0 274.5 Deposits at financial insts. Checkable deposits 3 curr. Small time 3 savings dep. Large time deposits Money market fund snares Security RPs Foreign deposits 15 16 17 18 19 20 813.9 188.9 935.9 71.2 608.3 2992.2 860.4 194.6 931.5 75.7 610.7 2993.1 924.4 193.3 941.7 72.9 601.3 3034.7 965.6 214.5 962. 0 77.0 607.9 3135.6 1042.1 217.3 977.4 79.6 629.6 3160.2 1134.6 225.0 976.9 82.9 639.0 3174.9 1225.8 234.7 989.7 81.2 637.6 3249.9 1342.4 254.5 1009.6 82.8 651.2 3316.5 1429.3 279.3 1026.4 84.2 660.9 3414.6 1439.0 282.7 1022.3 88.8 655.3 3503.2 1443.1 278.1 1039.5 84.4 640.2 3550.8 1563.7 263.2 1062.5 88.1 656.3 3673.6 Mutual fund shares 15 16 Security credit Trade debt 17 Taxes payable 18 Inv. in bank personal trusts 19 Miscellaneous 20 21 29609.6 29811.5 30214.6 30850.7 31360.1 31781.7 32338.1 33035.0 33721.3 34032.4 34342.6 35018.1 Total liabilities above ♦ Financial assets not included in borrowing 22.0 21.0 22.7 22.3 20.0 22 19.6 19.8 20.1 20.4 Gold and SDRs 23.2 20.8 20.3 23 4863.6 4925.5 4841.5 5004.2 5462.9 5647.3 5683.7 5941.7 6186.5 6052.2 5877.7 6135.1 Corporate equities 24 2444.4 2471.8 2462.1 2487.3 HH equity in noncorp. bus. 2465.3 2411.5 2419.5 2434.2 2445.3 2427.7 2457.8 2478.9 - Floats not incl. in assets 3.8 0.9 1.4 4.0 0.3 6.8 3.4 0.9 25 3.5 2.2 5.6 1.2 Check, dep.: U.S. govt. 39.0 42.0 40.4 42.1 36.7 41.6 36.3 38.7 30.6 26 32.8 33.7 40.7 Other -136.0 27 -129.3 -144.8 -155.3 -149.5 -124.6 -130.9 -135.0 -130.4 -101.7 -121.6 -135.1 Trade credit - Liabs. not identified as assets -4.9 -5.0 -4.8 -4.8 -4.9 -4.9 -5.0 -5.1 -5.2 -5.2 -5.3 Treasury currency 28 -5.1 -4.0 -1.8 -5.7 -9.3 -7.4 -5.0 29 -4.2 -5.8 -4.7 -7.7 -3.5 -7.8 Interbank claims 39.4 108.0 38.1 9.2 16.5 52.2 94.9 119.2 133.0 160.3 30 132.6 186.3 Security RPs 9.8 15.2 23.6 17.8 20.7 25.2 24.3 31 14.5 26.2 23.8 24.3 15.2 Taxes payable -376.2 -380.0 -388.4 -398.4 -432.7 -409.3 -452.6 -451.0 -470.3 -441.1 32 -330.7 -456.3 Miscellaneous Totals identified to sectors 33 37337.6 37692.4 37986.9 38781.4 39679.1 40293.1 40853.6 41845.5 42726.5 42982.9 43085.3 44020.8 as assets BILLIONS OF DOLLARS, END OF PERIOD 2 3 4 5 6 7 8 9 10 11 12 13 14 21 22 23 24 25 26 27 28 29 30 31 32 33 DECEMBER 7, 1994 Assets and Liabilities of Individuals Assets and Liabilities of Individuals L.8 Assets and Liabilities of Individuals in the U.S. 71 (1) LEVELS, 1979-1990 LEVELS, 1979-1990 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 4010.7 4680.4 4953.0 5482.7 6231.2 6751.1 7883.4 8877.2 9483.2 10378.9 11707.6 11998.1 1 2 3 4 Checkable deposits and curr. Time and savings deposits Money market fund shares 288.7 1149.0 38.3 302.6 1270.6 62.1 338.9 1340.7 148.1 363.7 1447.1 180.5 385.5 1645.4 149.3 389.5 1870.6 192.6 418.5 1987.8 194.9 513.5 2077.8 230.6 511.1 2163.1 253.3 537.2 2315.7 269.1 535.6 2395.3 346.0 540.9 2433.8 374.5 2 3 4 5 6 7 8 9 Secur ities U.S. savings bonds Other U.S. Treasury secur. U.S. govt, agency secur. Tax-exempt securities 1063.2 79.9 83.1 22.9 74.3 1331.9 72.5 110.8 30.8 76.4 1263.8 68.2 133.4 31.7 93.2 1370.8 68.3 156.5 15.8 122.1 1627.3 71.5 202.8 10.5 156.7 1663.3 74.5 241.8 33.9 184.3 2145.5 79.8 232.1 43.9 257.2 2432.3 93.3 194.8 31.3 242.5 2602.0 101.1 195.2 70.6 322.5 2949.7 109.6 263.0 133.5 375.3 3427.2 117.7 235.3 182.8 430.8 3500.1 126.2 332.6 198.6 448.5 5 6 7 8 9 45.6 28.0 39.4 690.0 31.1 30.8 45.6 933.9 31.3 19.4 46.6 839.9 24.9 21.3 57.3 904.7 28.1 42.2 37.7 1027.8 31.1 40.6 105.7 951.4 30.6 99.0 192.4 1210.3 60.2 93.3 318.3 1398.6 62.3 114.8 352.5 1383.0 38.4 146.1 370.1 1513.7 60.6 136.8 434.6 1828.5 94.7 131.0 451.9 1716.7 10 11 12 13 197.7 143.5 413.1 244.4 215.2 257.6 207.4 172.0 504.4 282.0 244.8 302.5 216.3 199.8 530.2 318.3 248.1 348.7 223.3 242.9 659.4 368.3 264.2 362.5 231.1 281.7 800.5 427.1 293.2 390.1 236.1 328.3 861.1 490.2 306.1 413.1 246.5 391.7 1093.0 557.7 358.3 439.4 263.7 474.2 1290.8 656.6 404.4 533.3 289.5 536.9 1367.0 723.1 414.2 623.1 314.4 621.9 1421.3 328.2 443.7 677.2 342.8 699.7 1705.6 1007.0 515.1 733.3 368.1 784.1 1629.1 1082.8 522.1 762.5 14 15 16 17 18 19 1923.1 850.6 339.2 350.6 17.5 35.9 329.3 2136.5 954.3 390.1 355.4 24.7 42.6 369.4 2318.5 1028.7 419.3 372.3 23.0 50.0 425.2 2486.1 1070.3 492.0 388.7 25.8 54.2 455.1 2754.1 1187.4 541.9 437.6 34.2 55.2 497.7 3108.2 1322.4 623.8 519.3 31.3 55.6 555.2 3545.4 1491.3 721.9 601.6 50.7 55.5 624.4 3902.7 1693.2 790.7 659.1 57.4 55.4 647.0 4232.5 1921.5 847.4 692.0 41 .8 55.3 674.5 4619.3 2155.6 905.7 742.1 43.5 55.2 717.2 5004.4 2391.8 949.5 796.4 42.5 58.3 765.8 5270.5 2599.7 966.4 812.4 38.8 62.5 790.7 20 21 22 23 24 25 26 1 Total financial assets 10 11 12 13 14 15 16 17 18 19 Corporate 8 foreign bonds Open market paper Mutual fund shares Corporate equities Private life insurance res. Private insured pension res. Private noninsured pen. res. Govt, insurance & pen. res. Inv. in bank pers. trusts Miscellaneous finan. assets 20 Total liabilities Mtg. debt on nonfarm homes 21 Other mortgage debt (2) 22 Consumer credit 23 24 Security credit Policy loans 25 26 Other liabilities (2) (1) Consolidated statement for household sector, farm business, and nonfarm noncorporate business. (2) Includes corporate farms. BILLIONS OF DOLLARS, END OF PERIOD. DECEMBER 7, 1994 Assats and Liabilities of Individuals Assets and Liabilities of Individuals L.d Assats and Liabilities of Individuals in the U.S. (1) LEVELS, 1991 IV I I 1992 I 72 LEVELS, 1991-1994 1991-1994 II III IV I 1 1993 I II IV III I 1 I 1994 II III 1 13587.6 13729.3 13689.0 13987.5 14571.0 14790.4 14907.7 15281.1 15642.5 15608.0 15539.9 15930.3 Total financial assets 1 2 3 4 603.9 2316.4 383.3 614.4 2306.8 399.5 624.7 2267.9 383.7 667.7 2239,5 357.5 735.0 2204.3 341.4 713.7 2164.0 352.7 744.6 2148.8 344.2 766.3 2124.7 332.7 817.1 2113.2 331.2 798.4 2134.8 346.7 807.4 2125.5 327.2 810.8 2125.6 330.1 Checkable deposits and curr. Time and savings deposits Money market fund shares 2 3 4 5 6 7 a 9 4354.3 138.1 276.9 194.3 483.3 4473.4 142.0 317.6 188.9 477.8 4414.7 145.4 304.2 191.1 485.4 4542.8 150.3 300.2 210.0 473.1 4910.7 157.3 314.2 237.3 448.6 5008.8 163.6 306.8 227.3 447.4 5048.3 166.5 313.7 208.8 465.6 5228.6 169.1 313.1 197.6 446.6 5451.9 171.9 342.8 228.6 432.6 5440.4 175.0 392.7 281.7 419.3 5403.9 177.1 413.2 345.8 429.2 5624.8 178.6 465.9 373.8 409.0 Securities U.S. savings bonds Other U.S. Treasury secur. U.S. govt, agency secur. Tax-exempt securities 5 6 7 8 9 10 11 12 13 105.0 96.1 592.0 2468.6 110.9 79.2 619.8 2537.2 101.7 89.8 669.6 2427.7 92.9 80.1 687.9 2548.1 106.6 103.0 733.9 2810.0 115.6 32.8 791.1 2874.1 117.7 68.8 844.3 2862.9 116.8 82.0 915.8 2987.7 142.3 73.6 965.8 3094.4 158.4 64.1 975.4 2973.9 173.4 37.2 985.6 2842.5 176.1 49.1 1077.9 2894.5 14 15 16 17 18 19 393.8 865.2 2055.9 1229.1 6 08.3 777.4 401.3 860.5 2019.6 1253.6 610.7 769.5 405.3 900.0 2050.9 1268.6 601.3 771.8 414.8 918.0 2114.6 1332.2 607.9 792.7 421.5 940.5 2213.8 1373.8 629.6 800.5 431.2 962.9 2314.3 1386.9 639.0 816.9 440.2 992.8 2343.9 1384.9 637.6 822.4 452.0 1022.2 2428.2 1430.1 651.2 845.2 457.2 1042.5 2449.8 1463.8 660.9 854.9 462.3 1061.5 2365.0 1475.1 655.3 868.4 464.4 1075.0 2333.6 1483.0 640.2 879.6 47 0.4 1092.6 2389.3 1545.6 656.8 884.3 20 21 22 23 24 25 26 5423.6 2763.0 963.8 797.4 55.1 67.2 777.0 5437.7 2806.4 963.5 775.2 51.2 67.8 773.6 5486.0 2839.9 956.0 773.4 56.3 68.9 791.5 5549.9 2898.0 949.2 781.4 55.8 70.3 795.2 5617.2 2942.0 936.2 803.0 53.3 72.9 809.8 5630.3 2961.6 935.5 788.2 59.1 73.7 812. 1 5712.9 3020.3 930.9 800.2 58.7 74.7 828.0 5820.0 3080.4 927.9 824.3 66.6 76.6 844.3 5932.9 3129.2 924.1 866.5 75.9 78.6 853.6 5978.0 3160.2 922.3 863.6 76.5 79.7 375.7 6084.6 3206.7 924.8 895.3 75.7 81.8 900.3 6193.5 Total liabilities Mtg. debt on nonfarm homes 3257.5 Other mortgage debt (2) 928.1 Consumer credit 932.1 Security credit 72.2 84.1 Policy loans 919.5 Other liabilities (2) Corporate & foreign bonds Open market paper Mutual fund shares Corporate equities Private life insurance res. Private insured pension res. Private noninsured pen. res. Govt, insurance 8 pen. res. Inv. in bank pers. trusts Miscellaneous finan. assets (1) Consolidated statement for household sector, farm business, and nonfarm noncorporate business. (2) Includes corporate farms. BILLIONS OF DOLLARS, END OF PERIOD. 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 DECEMBER 7, 1994 Household sector Household sector L.100 Households and Nonprofit Organizations (1) 73 LEVELS, LEVELS, 1979-1990 1979-1990 1979 1980 1981 1982 1983 1984 1 Total financial assets 5512.4 6405.7 6797.4 7321.4 8084.8 8542.2 9668.2 10680.2 11379.6 12345.6 13801.7 14022.6 1 2 3 4 5 6 1419.2 253.1 1015.1 112.7 38.3 1572.6 264.1 1091.2 155.2 62.1 1752.2 298.1 1127.1 179.0 148.1 1908.6 319.1 1248.9 160.2 180.5 2075.4 332.4 1436.1 157.7 149.3 2329.5 331.4 1574.2 231.4 192.6 2454,4 348.3 1689.5 221,7 194.9 2656.7 436.1 1783.9 206.1 230.6 2761.7 431.4 1829.1 247.9 253.3 2938.8 449.3 1939.5 280.9 269.1 3080.7 443.3 2002.4 288.9 346.0 3152.4 448.8 2068.7 260.4 374.5 2 3 4 5 6 416.8 183.1 160.1 79,9 80.3 22.9 461.2 211.6 180.7 72.5 108.2 30.8 493.0 230.0 198.3 68.2 130.1 31.7 527.2 237.4 221.6 68.3 153.2 15.8 627.2 278.7 268.3 71.5 196.8 10.5 712.4 344.7 310.3 74.5 236.3 33.9 861.8 350.1 306.2 79.8 226.4 43.9 823.8 312,5 281.2 93.3 187.8 31.3 1031.7 360.3 289.7 101.1 188.6 70.6 1237.5 499.1 365.6 109.6 256.1 133.5 1345.8 527.4 344.6 117.7 226.9 182.8 1499.3 7 648.0 8 449.4 9 126.2 10 323.2 11 198.6 12 74.3 45.6 85.8 28.0 76.4 31.1 111.4 30.8 93.2 31.3 119.0 19.4 122.1 24.9 121.5 21.3 156.7 28.1 121.4 42.2 184.3 31.1 111.7 40.6 257.2 30.6 124.8 99.0 242.5 60.2 115.4 93.3 322.5 62.3 171.7 114.8 375.3 38.4 178,6 146.1 430.8 60.6 190.2 136.8 7 8 9 10 11 12 13 14 15 16 Deposits Checkable dep. and curr. Small time £ savings dep. Large time deposits Money market fund snares Credit market instruments U.S. govt, securities Treasury Savings bonds Other Treasury Agency Tax-exempt securities Corporata and fgn. bonds Mortgages Open market paper 1985 1986 1987 1988 1989 1990 448.5 94.7 177.2 131.0 13 14 15 16 17 18 Mutual fund shares Corporate equities 39.4 690.0 45.6 933.9 46.6 839.9 57.3 904.7 37.7 1027.8 105.7 951.4 192.4 1210.3 318.3 1398.6 352.5 1383.0 370.1 1513.7 434.6 1828.5 451.9 17 1716.7 18 19 20 21 Life insurance reserves Pension fund reserves Inv. in bank pers. trusts 206.7 792.0 215.2 216.4 949.3 244.8 225.6 1039.0 248.1 232.8 1261.1 264.2 240.8 1499.6 293.2 246.0 1669.8 306.1 256.7 2032.2 358.3 274.2 2411.1 404.4 300.3 2616.2 414.2 325.5 2860.7 443.7 354.3 3400.9 515.1 380.0 19 3484.2 20 522.1 21 22 23 24 Equity in noncorp. business Security credit Miscellaneous assets 1656.1 10.4 66.7 1892.0 16.2 73.5 2057,8 14.7 80.4 2060.4 17.8 87.4 2109.7 20.6 102.9 2095.3 21.6 104.2 2134.4 35.1 132.5 2199.3 44.0 149.8 2306.0 39.1 174.9 2423.3 40.9 191.3 2582.4 53.2 206.2 2529.1 22 62.4 23 224.4 24 1311.8 1442.6 1552.2 1625.1 1801.8 2019.0 2332.9 2602.4 2859,0 3174.1 3496.1 3738.5 25 1270.1 808.6 350.6 1391.1 904.9 355.4 1499.7 973.3 372.3 1563.1 1004.7 388.7 1733.4 1092.8 437.6 1950.9 1220.2 519.3 2242.7 1378.8 601.6 2504.5 1573.7 659.1 2770.7 1795.3 692.0 3073.6 2023,1 742.1 3379.6 2253.1 796.4 3614.3 26 2455.0 27 812.4 28 25 Total liabilities 26 27 28 Credit market instruments Home mortgages Consumer credit 29 30 31 32 Tax-exempt debt Commercial mortgages Bank loans n.e.c. Other loans 13.6 29.6 21.7 45.9 16.7 31.5 27.8 54.7 21.1 33.8 33.5 65.8 29.6 36.8 35.1 73.2 41.0 49.9 35.6 76.5 51.2 56.9 23.9 79.4 81.3 62.8 34.0 84.3 79.1 70.9 32.2 89.4 78.2 81.0 31.7 92.4 79.5 104.7 27.8 96.5 81.9 123.7 25.8 98.6 33 34 Security credit Trade credit Deferred and unpaid life insurance premiums 17.5 12.6 24.7 13.8 23.0 14.8 25.8 15.6 34.2 18.0 31.8 21.2 50.7 24.3 57.4 26.6 41.8 31.4 43.5 41.5 42.5 57.6 38.8 33 68.9 34 11.7 12.9 14.7 15.5 16.1 15.1 15.2 13.9 15.1 15.5 16.4 16.5 35 35 (1) Supplementary tables (F.IOO.a and L.IOO.a) at the end of the release show estimates of annual flows and year-end outstandings of nonprofit organizations. BILLIONS OF DOLLARS, END OF PERIOD 35.8 139.1 12.1 109.8 29 30 31 32 DECEMBER 7, 1994 Household sector Household sector 74 L.100 Households and Nonprofit Organizations (1) LEVELS, 1991-1994 LEVELS, 1991-1994 1991 1 IV I 1992 I II III IV 1 1 1993 I II III IV 1 1 I 1994 II III 1 15534.1 15699.0 15643.4 15941.0 16464.5 16691.8 16823.4 17204.9 17546.4 17539.0 17489.3 17885.4 Total financial assets 1 2 3 4 5 6 3109.2 510.8 2021.3 193.8 383.3 3124.6 519.4 2018.6 187.1 399.5 3078.6 528.0 1997.5 169.3 383.7 3065.1 569.1 1973.2 165.3 357.5 3079.9 634.6 1956.7 147.2 341.4 3030.1 612.6 1930.9 134.0 352.7 3037.0 642.5 1913.4 136.9 344.2 3022.8 663.3 1893.5 133.3 332.7 3060.1 713.1 1887.9 127.9 331.2 3077.5 693.1 1911.7 126.0 346.7 3056.5 700.8 1905,6 122.8 327.2 3061.4 702.8 1890.7 137.8 330.1 Deposits Checkable dep. and curr. Small time 8 savings dep. Large time deposits Money market fund shares 7 8 9 10 11 12 1446.5 600.1 405.8 138.1 267.7 194.3 1470.1 639.1 450.3 142.0 308.2 188.9 1471.8 631.1 440.0 145.4 294.6 191.1 1462.2 650.9 440.9 150.3 290.5 210.0 1523.1 698.8 461.5 157.3 304.3 237.3 1501.8 687.5 460.2 163.6 296.6 227.3 1501.4 678.5 469.6 166.5 303.1 208.8 1488.3 668.8 471.2 169.1 302.1 197.6 1557.5 732.0 503.4 171.9 331.5 228.6 1657.1 837.7 556.1 175.0 381.1 281.7 1747.0 924.0 578.3 177.1 401.1 345.8 1826.8 1005.9 632.1 178.6 453.5 373.8 Credit market Instruments U.S. govt, securities Treasury Savings bonds Other Treasury Agency 13 14 15 16 483.3 105.0 162.1 96.1 477.8 110.9 163.1 79.2 485.4 101.7 163.9 89.8 473.1 92.9 165.2 80.1 448.6 106.6 166.2 103.0 447.4 115.6 168.4 82.8 465.6 117.7 170.9 68.3 446.6 116.8 174.1 82.0 432.6 142.3 177.1 73.6 419.3 158.4 177.7 64.1 429.2 173.4 133.2 37.2 409.0 176.1 136.7 49.1 17 18 592.0 2468.6 619.3 2537.2 669.6 2427.7 687.9 2548.1 733.9 2810.0 791.1 2874.1 844.3 2862.9 915.8 2987.7 965.8 3094.4 975.4 2973.9 985.6 2842.5 1077.9 2894.5 Mutual fund shares Corporate equities 17 18 19 20 21 405.7 4138.3 6 08.3 413.1 4141.8 610.7 417.0 4207.3 601.3 426.4 4353.1 607.9 433.0 4516.5 629.6 442.6 4652.7 639.0 451.4 4710.4 637.6 463.1 4869.4 651.2 468.2 4945.1 660.9 473.2 4890.7 655.3 475.2 4880.3 640.2 481.2 5016.8 656.8 Life insurance reserves Pension fund reserves Inv. in bank pers. trusts 19 20 21 22 23 24 2444.4 37.0 234.1 2471.8 71.8 238.0 2462.1 65.1 242.5 2465.3 78.0 247.0 2411.5 76.1 251.0 2419.5 86.3 254.5 2434.2 86.7 257.6 2445.3 99.5 261.9 2427.7 102.7 264.1 2457.3 110.3 267.3 2478.9 111.8 270.8 2487.3 107.0 275.9 Equity in noncorp. business Security credit Miscellaneous assets 22 23 24 25 3919.7 3938.7 3990.7 4064.4 4142.9 4161.0 4243.3 4351.4 4464.1 4505.5 4597.4 4694.2 Total liabilities 25 26 27 28 3784.7 2613.7 797.4 3806.7 2655.9 775.2 3851.6 2638.3 773.4 3923.5 2745.3 781.4 4002.3 2788.1 803.0 4012.6 2806.4 738.2 4093.0 2863.8 300.2 4190.9 2922.7 824.3 4292.0 2970.1 866.5 4330.4 2999.8 363.6 4420.7 3045.0 395.3 4518.5 3094.4 932.1 Credit market instruments Home mortgages Consumer credit 26 27 28 29 30 31 32 93.5 151.5 8.7 119.9 96.1 157.1 1.1 121.2 100.8 157.4 8.3 123.4 103.9 163.1 4.2 125.6 108.1 163.9 11.4 127.9 109.9 169.2 9.7 129.1 114.2 174.9 9.6 130.2 118.4 177.5 16.1 132.0 120.0 181.4 19.8 134.1 124.1 184.5 22.9 135.5 128.3 185.7 29.0 137.4 130.3 187.7 33.3 140.2 Tax-exempt debt Commercial mortgages 3ank loans n.e.c. Other loans 29 30 31 32 33 34 55.1 64.3 51.2 65.1 56.3 67.1 55.3 69.4 53.3 71.5 59.1 73.4 58.7 7S.4 66.6 77.5 75.9 79.6 76.5 81.7 75.7 33.9 72.2 86.2 33 34 35 15.7 15.7 15.7 15.7 15.8 15.9 16.1 16.4 16.6 16.9 17.1 17.3 Security credit Trade credit Deferred and unpaid life insurance premiums Tax-exempt securities Corporate and fgn. bonds Mortgages Open market paper (1) Supplementary tables (F.100.a and L.100.a]i at the end of the release show estimates of annual flows and year-end outstandings of nonprofit organizations. BILLIONS OF DOLLARS, END OF PERIOD. 2 3 4 5 6 7 8 9 IQ 11 12 13 14 15 16 35 ve.ue.mBcx /, !'#'?<♦ Nonfinancial Business Nonfinancial Business L.101-L.103 Nonfinancial Business 75 LEVELS, 1979-1990 LEVELS, 1979 1980 1981 1982 1983 1984 1985 1986 1979-1990 1987 1988 1989 1990 2980.8 285.1 203.9 26.3 64.3 277.3 L.101 All Nonfinancial Business 1 Total financial assets 2 Checkable dep. and currency 3 Time deposits 4 Money mkt. fund shares 5 Security RPs 6 Foreign deposits 7 8 9 10 Credit market instruments Mutual fund shares Trade credit Miscellaneous assets 11 Total liabilities 1215.9 85.9 54.6 3.0 18.8 21.8 1339.9 95.5 62.1 7.0 28.4 24.6 1501.7 88.2 82.5 18.4 33.4 23.0 1566.0 99.8 97.1 19.0 42.1 31.5 1782.4 129.1 122.4 li.2 48.4 125.4 1913.6 163.3 139.4 16.1 48.8 123.4 2066.6 201.9 156.9 14.5 55.8 134.1 2286.0 231.0 175.3 18.1 65.3 162.4 2473.2 252.1 177.6 18.9 66.1 174.4 2703.7 258.8 200.9 15.6 74.3 188.5 2849.5 277.0 207.3 16.2 70.3 236.6 86.5 1.1 460.9 483.3 85.9 1.5 510.6 524.3 104.5 1.6 539.2 610.9 129.8 3.1 531.7 611.9 154.8 4.5 590.0 596.7 174.7 7.2 644.0 596.6 184.0 10.8 687.8 620.8 208.2 15.7 719.5 690.5 221.1 12.8 773.5 776.6 229.8 10.6 857.5 867.6 242.8 9.5 908.9 881.0 237.4 7 8.2 8 929.1 9 949.3 10 1886.2 2109.5 2354.1 2532.8 2776.3 3173.0 3525.1 3906.7 4283.3 4690.8 5045.4 5237.4 11 1351.3 35.0 337.9 478. 1 308.1 24.5 168.1 1487.3 45.9 365.6 521.5 337.2 28.0 189.2 1658.1 59.3 390.3 557.3 380.1 42.7 228.4 1800.8 74.5 421.0 597.3 430.6 37.6 239.9 1980.8 83.9 447.0 683.8 455.3 36.8 274.1 2293.5 104.4 495.1 774.7 523.4 58.5 337.4 2575.8 127.0 578.2 868.1 558.1 72.2 372.1 2889.0 117.1 705.4 968.1 615.4 62.9 420.2 3148.1 116.2 784.1 1084.0 628.0 73.8 462.1 3399.5 116.4 887.2 1119.1 670.1 85.7 521.1 3637.0 115.5 961.1 1168.4 707.9 107.1 577.1 3751.7 115.2 1008.2 1164.4 714.7 116.9 632.3 I 2 3 4 5 6 12 13 14 15 16 17 13 Credit market instruments Tax-exempt debt Corporate bonds Mortgages Bank loans n.e.c. Commercial paper Other loans 19 Trade debt 357.8 401.6 436.3 445.7 482.6 521.1 558.0 572.9 619.1 683.3 721.3 753.2 19 20 21 Taxes payable Miscellaneous liabilities 53.8 122.9 59.2 161.4 53.6 206.0 50.8 235.4 55.7 257.2 60.3 298.1 60.6 330.7 66.1 378.7 71.7 444.3 76.4 531.6 77.9 609.2 73.5 20 659.0 21 12 13 14 15 16 17 18 L.:102 Farm Business (1) 22.2 7.3 14.9 12.4 2.5 24.2 7.4 16.8 13.7 3.1 26.1 7.6 18.5 14.8 3.7 28.0 7.8 20.2 16.1 4.1 29.4 8.1 21.3 17.1 4.2 29.7 8.3 21.4 17.1 4.3 33.3 9.0 24.3 20.4 4.0 37.6 10.1 27.6 24.2 3.4 39.5 9.9 29.6 26.7 3.0 42.8 10.4 32.4 29.4 3.0 45.0 10.5 34.5 32.4 2.2 162.0 145.7 36.8 31.0 27.9 178.8 161.5 97.5 31.6 32.4 196.2 177.8 107.2 32.9 37.6 203.6 184.5 111.3 36.1 37.0 207.0 188.4 113.7 38.9 35.7 205.6 187.9 112.4 39.9 35.6 188.5 173.4 105.9 35.5 32.1 168.1 156.0 95.2 31.2 29.6 155.3 144.4 87.7 29.1 27.6 145.5 133.7 83.0 29.8 21.0 146.6 134.4 80.5 30.8 23.1 148.2 6 135.4 7 78.9 8 32.9 9 23.6 10 16.3 17.4 18.4 19.1 18.6 17.6 15.1 12.1 10.9 11.8 12.3 12.7 11 1 Total financial assets Checkable dep. and currency 2 Miscellaneous assets 3 Insurance receivables 4 Equity in GSEs (2) 5 6 Total liabilities Credit market instruments 7 Mortgages 3 Bank loans n.e.c. 9 Other loans 10 11 (13 Trade debt 47.4 10.9 36.6 34.6 2.0 1 2 3 4 5 Includes corporate and noncorporate farms. L.103 Nonfarm Noncorporate Business 1 Total financial assets Checkable dep. and currency 2 Time deposits 3 4 Treasury securities Consumer credit 5 6 Mortgages Trade credit 7 130.6 28.3 21.3 2.8 0.9 11.0 30.2 139.5 31.1 24.2 2.6 0.2 12.2 32.5 183.9 33.3 34.7 3.3 Miscellaneous assets Insurance receivables Equity in GSEs (2) Other 36.1 21.8 0.6 13.7 8 9 10 11 12 Total liabilities 20.3 37.0 189.3 36.8 38.1 3.2 25.0 45.0 222.6 45.0 51.7 6.0 29.3 52.4 270.5 49.3 65.1 5.5 39.3 59.3 310.4 61.3 76.6 5.8 44.0 63.8 349.5 67.3 87.8 6,9 46.7 70.5 363.6 69.8 86.0 6.5 41.1 79.2 404.2 77.5 95.3 7.0 43.3 91.2 431.7 81.8 103.9 8.4 41.1 99.0 36.3 24.3 0.8 11.7 55.3 26.3 0.8 28.1 41 .8 28.4 0.9 12.5 38.1 23.3 0.8 13.5 51.6 34.8 0.9 15.9 59.0 39.5 0.8 18.5 70.3 45.0 0.8 24.5 31.0 51.7 0.7 28.5 89.8 56.6 0.7 32.5 97.5 60.4 0.8 36.3 449.3 515.1 570.1 657.4 745.4 383.6 1024.0 1132.2 1218.3 1299.7 1361.7 1383.9 12 385.5 264.8 72.8 47.8 440.2 310.5 75.3 54.5 481.7 333.8 85.5 62.5 552.8 409.6 76.0 67.3 625.0 472.9 75.5 76.5 736.6 556.7 92.4 87.5 859.9 665.8 98.5 95.5 958.9 744.1 110.5 104.4 1033.9 804.8 116.6 112.5 1096.8 850.6 121.0 125.2 1136.9 883.9 123.5 129.4 1147.0 893.1 126.5 127.4 K 444,7 81.3 104.7 9.4 38.4 104.0 1 2 3 4 5 6 7 107.0 8 66.4 9 0.6 10 40.0 11 13 14 15 16 Credit market instruments Mortgages Bank loans n.e.c. Other loans 17 18 Taxes oayable Trade debt 12.8 31.7 15.3 36.4 13.7 41.6 15.2 45.3 17.1 45.8 18.2 51.5 21.6 56.9 23.3 61.1 23.9 68.6 26.3 72.8 31.4 79.8 32.0 17 81.9 18 19 Miscellaneous liabilities 19.3 23.1 33.1 44.0 57.5 77.4 85.7 88.9 91.9 103.3 113.6 123.0 19 (2) Equity in the Farm Credit System. BILLIONS OF DOLLARS, END OF PERIOD. 13 14 15 16 Nonfinancial Business Nonfinancial Business L.101-L.103 Nonfinancial Business 76 LEVELS, 19,1-199 <1 LEVELS, 1991-1994 1991 IV 1992 I 1 I II III IV I 1 1993 I II IV III I 1 1994 II I III L.101 All Nonfinancial Business 1 2 3 4 5 6 3031.9 294.4 205.6 31.5 62.8 268.0 3060.1 293.1 202.1 35.6 62.1 260.3 3107.0 294.3 200.3 40.4 60.2 260.8 3154.3 286.7 196.8 44.8 57.0 266.8 3161.4 291.2 197.3 47.3 56.4 259.6 3142.6 285.7 196.0 48.0 53.5 258.3 3173.7 268.2 195.1 46.7 51.1 253.7 3210.9 292.3 195.8 45.1 48.4 247.3 3233.0 297.4 198.4 44.8 47.2 247.9 3270.1 292.9 197.3 45.5 46.8 252.7 3311.9 291.6 199.2 46.9 46.6 264.2 3350.9 Total financial assets Checkable dep. and currency 292.8 198.3 Time deposits 47.2 Money mkt. fund shares 46.4 Security RPs Foreign deposits 266.2 7 8 9 10 240.3 10.9 923.5 994.8 237.8 13.1 933.2 1022.8 248.1 13.9 954.9 1034.2 251.9 14.8 971.1 1064.4 268.4 15.6 962.0 1063,5 262.3 17.0 967.0 1054.6 268.7 19.3 985.1 1065.9 275.2 20.8 996.4 1089.7 287.8 22.4 984.5 1102.7 282.5 22.3 1000.3 1129.7 290.9 21.6 1031.7 1119.0 287.5 21.6 1053.4 1137.2 11 5227.6 5242.4 5268.7 5279.4 5299.5 5300.3 5324.1 5346.5 5376.1 5417.6 5477.3 5542.0 Total liabilities 11 12 13 14 15 16 17 18 3709.3 114.0 1086.9 1154.8 677.2 98.5 577.9 3715.4 113.2 1106.1 1141.1 669.5 110.4 575.2 3723.7 112.8 1125.5 1132.0 662.7 112.0 578.6 3710.9 112.6 1140.9 1110,9 658.9 108.2 579.3 3710.5 114.0 1154.4 1091.9 660.8 107.1 582.3 3715.7 112.9 1175.9 1085.9 651.2 113.9 576.1 3729.8 112.7 1194.8 1071.2 656.7 124.0 570.4 3729.1 113.1 1212.8 1066.4 649.6 123.2 564.1 3741.5 113.9 1229.6 1055.0 657.4 117.8 567.7 3772.9 112.8 1238.4 1046.1 665.9 129.9 579.7 3816.4 112.8 1248.1 1050.8 683.7 135.7 585.3 3848.4 111.9 1254.3 1055.3 699.4 138.7 588.8 12 13 14 15 16 17 18 19 761.7 758.8 768.4 781.7 794. 1 791.6 800.2 816.7 828.5 822.4 839.5 859.1 Trade debt 19 20 21 65.3 690.3 69.9 698.3 67.2 709.4 71.2 715.6 73.7 721.2 76.4 716.5 74.3 719.9 75.2 725.5 76.4 729.8 80.6 741.7 76.7 744.8 80.4 754.2 Taxes payable Miscellaneous liabilities 20 21 Credit market instruments Mutual fund shares Trade credit Miscellaneous assets Credit market instruments Tax-exempt debt Corporate bonds Mortgages Bank loans n.e.c. Commercial paper Other loans 1 2 3 4 5 6 7 8 9 10 L,. 102 Farm Business (1) 1 2 3 4 5 49.6 11.8 37.8 35.6 2.2 50.5 12.3 38.2 36.1 2.1 51.4 12.7 38.7 36.7 2.0 52.5 13.2 39.3 37.2 2.1 53.4 13.6 39.3 37.7 2.1 54.3 14.1 40.2 38.1 2.2 55.1 14.5 40.6 38.4 2.2 55.8 14.9 40.9 38.7 2.2 56.6 15.3 41.3 39.1 2.2 57.5 15.7 41.8 39.5 2.3 58.4 16.1 42.2 40.0 2.3 6 7 8 9 10 147.9 135.0 79.3 34.6 21.1 145.6 132.6 79.2 33.0 20.5 149.5 136.5 79.3 35.6 21.1 151.0 137.9 80.5 36.2 21.1 149.2 136.0 80.4 34.7 20.9 146.9 133.4 80.8 32.8 19.8 150.4 136.7 81.0 35.4 20.3 152.7 138.7 31.1 37.1 20.5 152.5 138.3 81.2 36.8 20.3 151.2 136.7 81.4 35.5 19.8 157.1 142.4 82.9 39.2 20.3 11 13. 0 13.0 13.1 13.1 13.2 13.5 13.7 14.0 14.2 14.5 14.7 59.3 Total financial assets Checkable dep. and currency 16.5 42.8 Miscellaneous assets insurance receivables 40.5 Equity in GSEs (2) 2.3 159.3 Total liabilities 144.3 Credit market instruments 83.8 Mortgages 40.6 Bank loans n.e.c. 19.9 Other loans 14.9 Trade debt 1 2 3 4 5 6 7 8 9 10 11 Cl) Includes corporate and noncorporate farms. L.103 Nonfarm Noncorporate Business 1 2 3 4 5 6 7 439.9 81.4 101.3 9.3 34.8 101.1 443.4 82.7 101.2 9.4 34.4 102.6 447.3 84.0 101.1 9.5 34.3 104.3 451.1 35.4 101.0 9.7 33.6 106.1 454.2 86.8 100.4 9.9 33.1 108.1 455.0 87.1 99.2 10.2 32.0 110.1 456.5 87.6 98.5 10.6 30.8 112.3 458.2 38.1 97.9 11.0 29.6 114.6 460.5 88.3 97^4 11.3 28.4 117.0 463.0 39.5 97.2 11.7 27.1 119.4 466.2 90.4 97.0 12.0 26.3 121.8 469.6 Total financial assets Checkable dep. and currency 91.4 97.1 Time deposits 12.4 Treasury securities Consumer credit Mortgages 25.5 124.2 Trade credit 8 9 10 11 112.2 68.6 0.6 43.0 113.2 69.4 0.6 43.2 114.4 70.5 0.6 43.3 115.4 71.6 0.6 43.2 116.0 72.S 0.6 42.9 116.5 73.2 0.7 42.6 116.3 73.9 0.7 42.3 117.1 74.4 0.7 41.9 117.6 75.2 0.8 41.6 118.0 76.0 0.8 41.2 118.6 76.9 0.9 40.8 118.9 77.6 0.9 40.4 12 1355.9 1353.4 1345.8 1334.6 1325.2 1322.4 1319.1 1315.9 1316.3 1321.3 1330.1 1340.0 Total liabilities 13 14 15 16 1116.4 382.4 112.2 121.8 1111.9 877.7 111.1 123.0 1101.1 870.3 138.5 122.3 1086.8 858.3 107.9 120.7 1074.1 845.9 107.6 120.6 1067.2 840.3 105.7 120.8 1059.4 831.5 107.3 120.7 1052.2 827.0 104.6 120.6 1049.1 820.6 105.4 123. 1 1050.4 816.8 107.5 126.2 1055.1 817.9 109.9 127.3 1061.2 819.7 113.0 128.5 17 18 32.5 77.9 32.6 77.6 32.8 78.4 33.0 79.2 33.1 80.0 33.3 81.8 33.5 84.3 33.6 85.8 33.3 87.3 34.0 88.3 34.2 90.0 34.4 91.2 19 129.2 131.3 133.5 135.6 138.0 140.1 141.9 144.3 146.1 148.6 150.8 153.3 Miscellaneous assets Insurance receivables Equity in GSEs 12) Other 8 9 10 11 12 Credit market instruments Mortgages Bank loans n.e.c. Other loans 13 14 15 16 Taxes payable Trade debt 17 18 Miscellaneous liabilities 19 (2) Equity in the Farm Credit System BILLIONS OF DOLLARS, END OF PERIOD. 1 2 3 4 5 6 7 DECEMBER 7, 1994 Nonfinancial Corporations Nonfinancial Corporations L.104 Nonfarm Nonfinancial Corporate Business 77 LEVELS, 1979-1990 1 Total financial assets 2 3 4 5 6 7 8 9 10 11 12 13 LEVELS, 1979-1990 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1063.1 1176.2 1291.6 1348.1 1530.4 1613.3 1722.9 1898.9 2070.1 2256.7 2372.9 2488.7 I 170.8 50.3 8.3 25.1 3.0 18.8 21.8 196.5 57.1 9.4 28.5 7.0 28.4 24.6 220.4 47.4 11.9 35.9 18.4 33.4 23.0 277.7 55.3 14.7 44.4 19.0 42.1 31.5 415.7 76.0 17.5 53.1 11.2 48.4 125.4 459.4 105.1 18.5 55.9 16.1 48.8 123.4 508.1 131.6 19.9 60.4 14.5 55.8 134.1 594.5 153.6 21.2 66.3 18.1 65.3 162.4 643.0 172.4 21.9 69.7 18.9 66.1 174.4 673.6 170.9 24.4 81.2 15.6 74.3 188.5 740.5 184.8 23.9 79.4 16.2 70.3 236.6 782.5 192.9 23,0 76,2 26.3 64.3 277.3 2 3 4 5 6 7 8 13.1 11.9 1.3 3.7 26.7 18.7 17.0 1.7 3.5 19.4 20.2 18.5 1.8 3.5 26.8 30.5 28.7 1.8 3.5 36.7 38.5 36.7 1.8 4.2 41.4 42.7 41.0 1.7 4.1 44.8 41.5 39.9 1.6 4.9 45.3 58.7 57.2 1.5 8.0 40.9 62.3 60.9 1.3 10.5 46.6 59.6 58.3 1.3 12.0 47.0 65.6 63.9 1.7 11.4 52.4 58.5 56.0 2.5 10.1 53.9 9 10 11 12 13 Liquid assets Checkable dep. 8 currency Small time 8 savings dep. Large time deposits Money mkt. fund shares Security RPs Foreign deposits U.S. government securities Treasury Agency Tax-exempt securities Commercial paper 14 15 16 Consumer credit Mutual fund shares Trade credit 28.3 1.1 430.7 29.4 1.5 478.1 30.3 1.6 502.2 30.8 3.1 486.6 35.4 4.5 537.6 38.4 7,2 584.7 42.5 10.8 624.0 47.0 15.7 649.1 54.0 12.8 694.3 60.9 10.6 766.3 63.8 9,5 809.9 67.1 14 8.2 15 825.1 16 17 18 19 20 21 22 Miscellaneous assets U.S. dir. invest, abr. Cl) Insurance receivables Equity in GSEs (2) Inv. in finance co. subs. Other 432.2 331.2 38.9 0.6 6.4 55.0 470.7 334,3 43.6 0.6 7.5 34.7 537.0 402.9 47.3 0.6 8.6 77.6 549.9 393.3 50.0 0.7 9.7 95.6 537.3 362.0 53.5 0.7 10.8 90.2 523.6 373.9 58.6 0.7 11.9 78.4 537.5 394.0 62.8 0.8 16.7 63.2 592.6 419.6 81.6 0.9 18.7 71.8 666.0 479.1 92.4 1.3 12.5 80.8 745.3 486.9 102.5 1.3 9.2 145.4 749.1 504.4 117.2 1.3 8.8 117.4 805.8 559.0 119.6 1.3 15.0 110.9 17 18 19 20 21 22 1274.9 820.6 35.0 337.9 126.5 1415.6 885.6 45.9 365.6 113.5 1587.8 998.6 59.3 390.3 116.3 1671.7 1063.5 74.5 421.0 76.4 1824.0 1167.4 83.9 447.0 97.1 2083.8 1368.9 104.4 495.1 105.5 2312.6 1542.5 127.0 578.2 96.5 2606.3 1774.1 117.1 705.4 123.3 2909.7 1969.9 116.2 784.1 191.4 3245.6 2169.0 116.4 387.2 135.5 3537.1 2365.7 115.5 961.1 203.9 3705.4 2469.2 115,2 1008.2 192.4 23 24 25 26 27 204.3 24.5 92.4 1.1 67.6 6.9 13.8 2.9 - 230.3 28.0 102.3 1.4 70.9 3.4 17.1 4,5 - 261.7 42.7 128.3 2.0 79.6 9.6 21.4 15.7 318.5 37.6 135.5 2.3 80.3 10.9 20.7 20.9 - 340.9 36.8 161.8 5.3 90.7 10.4 27.6 27.2 391.1 58.5 214.3 10.3 110.2 11.6 30.4 51.7 - 424.1 72.2 244.5 14.7 127.0 14.2 28.3 60.3 - 473.7 62.9 286.2 19.9 141.7 14.3 28.1 31.7 - 482.4 73.8 322.0 20.4 171.0 11.5 32.6 86.5 - 519.3 85.7 374.3 24.6 196.3 9.9 32.6 111.5 - 553.5 107.1 424.5 23.5 216.2 9.6 35.8 137.9 1.6 555.4 116.9 481.3 17.2 234,8 8.8 29.2 186.7 4,6 28 29 30 31 32 33 34 35 36 41.0 309.8 103.6 79.4 24.2 43.9 347.7 138.4 110,2 28.1 39.9 376.4 173.0 140.2 32.7 35.6 381.3 191.3 153.3 38.0 38.6 418.3 199.7 153.3 41.3 42.2 452.0 220.7 179.2 41.5 39.0 636.0 245.0 195.0 50.1 42.8 499.7 289.8 235.2 54.6 47.9 539.6 352.4 295.6 56.8 49.6 598.7 428.3 366.9 61.4 46.5 629.3 495.7 423.3 72.4 41.5 653.6 536.1 463.3 67,7 37 38 39 40 41 121.0 929.1 130.3 1255.8 125.8 1133.6 105.4 1274.3 119.3 1536.7 132.7 1443.4 138.0 1797.2 149.3 2136.0 154,7 2243.1 167.5 2510.3 180.6 3173.3 166.5 42 3010.6 43 499.4 321.2 671.9 525.0 36 0.7 752.3 565.9 432.7 843.9 571.9 491.6 908.5 628.0 539.4 996.4 705.0 663.9 1158.1 301.8 740.8 1265.3 951.3 822.3 1365.3 1091.8 873.1 1465.5 1139.2 979.8 1628.1 1280.5 1085.2 1760.9 1315.7 44 1153.5 45 1853.6 46 60.8% 39.1% 25.4% 59.2% 40.7% 26.1% 56.6% 43.3% 25.9% 53.7% 46.2% 30.5% 53.7% 46.2% 41.7% 51.4% 48.5% 39.6% 51.9% 43.0% 40.1% 53.6% 46.3% 43.5% 55.4% 44.5% 43.8% 54.3% 45.1% 41.3% 54,1% 45.8% 42.0% 53.2% 47 46.7% 48 42.2% 49 23 Total liabilities 24 Credit market instruments Tax-exempt debt (3) 25 26 Corporate bonds (1) 27 Mortgages 28 29 30 31 32 33 34 35 36 37 38 39 40 41 Bank loans n.e.c. Commercial paper Other loans Savings institutions Finance companies U.S. government Acceptance liab.to banks Rest of the world ABS issuers Taxes payable Trade deot Miscellaneous liabilities Fgn. direct invest, in US Pen. fund contr. payable Memo: 42 Trade credit net of trade debt 43 Market value of equities Debt subtotals: 44 Securities and mortgages 45 Loans and short-term paper 46 Total s-t liabilities (4) Percent ratios: 47 L-t debt/credit market debt 48 S-t debt/credit market debt 49 Liquid assets/s-t liabil. (1) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues. (2) Equity in the Federal National Mortgage Association. (3) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds. (43 Loans (except mortgages), short-term paper, taxes payable, and trade debt. Includes loans due in more than one year and excludes current maturities of securities and mortgages. BILLIONS OF DOLLARS, END OF PERIOD. DECEMBER 7, 199 4 Nonfinancial Corporations Nonfinancial Corporations L.104 Nonfarm Nonfinancial Corporate Business LEVELS, 78 LEVELS, 1991-1994 1991 IV I 1 1992 I 11 III IV I ! 1993 I II III IV I | I 1994 II 1991-1994 III 2822.0 Total financial assets 1 1 2542.4 2566.3 2608.3 2650.7 2653.8 2633.3 2662.1 2696.9 2716.0 2749.6 2787.3 2 3 4 5 6 7 8 801.2 201.2 24.4 80.0 31.5 62.8 268.0 795.3 198.2 23.9 77.1 35.6 62.1 260.3 806.0 197.6 23.5 75.7 40.4 60.2 260.8 803.6 188.1 23.7 72.1 44.8 57.0 266.8 811.1 190.8 23.6 73.3 47.3 56.4 259.6 797.6 184.6 23.7 73.2 48.0 53.5 258.3 795.6 186.1 24.0 72.6 46.7 51.1 253.7 793.8 189.3 25.4 72.5 45.1 48.4 247.3 801.9 193.3 24.7 76.4 44.8 47.2 247.9 801.8 187.6 25.2 74.9 45.5 46.8 2S2.7 820.6 185.1 25.9 76.3 46.9 46.6 264.2 817.4 184.9 25.5 75.8 47.2 46.4 266.2 9 10 11 12 13 68.5 64.5 4.1 11.7 53.0 74.0 69.4 4.6 10.3 53.9 82.0 76.9 5.1 11.8 54.1 87.0 81.4 5.6 11.2 52.9 93.2 87.1 6.1 12.3 54.6 91.2 34.4 6.8 11.8 53.3 92.8 35.4 7.5 12.8 55.8 97.1 89.0 8.2 14.3 54.3 95.2 86.4 3.9 14.4 58.0 102.7 92.7 10.0 13.4 52.9 108.1 96.8 11.3 13.0 54.4 107.8 96.5 11.3 12.0 51.7 14 15 16 63.0 10.9 822.4 55.9 13.1 830.6 56.7 13.9 350.6 57.6 14.8 865.0 65.4 15.6 854.0 63.8 17.0 856.9 65.9 19.3 872.8 68.9 20.8 381.8 80.4 22.4 867.4 74.8 22.3 880.9 77.0 21.6 909.9 78.2 21.6 929.2 Consumer credit Mutual *und shares Trade credit 14 15 16 17 18 19 20 21 22 844.9 534.3 123.4 1.8 17.2 118.1 371.4 596.0 124.9 1.9 17.2 131.4 381.1 605.4 126.9 1 .9 17.4 129.5 9 09.7 613.9 128.3 1.9 17.5 147.6 907.7 590.6 130.5 1.9 18.9 165.8 897.9 595-6 131.8 1.9 21.5 147.0 908.4 608.4 132.9 1.9 22.5 142.7 931.6 618.9 134.0 1.9 22.3 154.6 943.9 611.6 135.3 1.9 21.4 173.7 969.9 631.1 136.7 2.0 20.5 179.6 958.2 643.7 133.3 2.0 22.3 151.9 975-5 656.3 139.6 2.0 25.0 152.3 Miscellaneous assets U.S. dir. invest, abr. (1) Insurance receivables Equity in GSEs (2) Inv. in finance co. subs. Other 17 18 19 20 21 22 23 24 25 26 27 3723.7 2453.0 114.0 1086.9 193.1 3743.4 2470.9 113.2 1106.1 184.2 3773.4 2486.1 112.8 1125.5 181.9 3793.8 2486.2 112.6 1140.9 172.1 3825.2 2500.4 114.0 1154.4 165.6 3831.0 2515.1 112.9 1175.9 164.3 3354.6 2533.7 112.7 1194.3 158.7 3377.9 2533.3 113.1 1212.8 158.3 3907.2 2554.1 113.9 1229.6 153.2 3945.1 2585.7 112.3 1238.4 148.0 3990.1 2618.9 112.8 1243.1 150.0 28 29 30 31 3? 33 34 35 36 530.5 93.5 435.0 9.7 234.3 7 .9 23.3 152.7 7 . 0 525.3 110.4 431 7 10.3 232.6 7.9 20.1 154.2 6.5 513.6 112.0 435.3 9.6 234.6 7.9 19.7 155.9 7 . 7 514.8 108.2 437.5 9. 0 230.3 7.9 20.3 162.1 7.5 518.5 107.1 440.9 6.2 237.2 7 9 20.4 159.9 9.3 512.7 113.9 435.5 5.6 234.2 7.9 19.3 155.9 12.5 514.0 124.0 429.4 5.5 233.4 8.0 18.3 150.0 14.2 507.9 123.2 423.0 5.5 233.5 8.0 18.1 144.7 13.1 515.2 117.8 424.3 5.4 235.7 8.1 17.1 141.0 17.0 522.9 129.9 433.7 5.2 241.8 8.2 16.3 143.3 18.8 534.6 135.7 437.7 5.1 250.6 8.3 16 0 139.5 13.1 545.9 133.7 440.4 5.1 253.8 3.5 16.9 137.9 18.2 37 38 39 40 41 33.3 67 0.3 561.6 472.9 88.7 37.3 668.3 566.9 479.5 37.5 34.4 677.0 575.9 488.3 37.6 38.2 639.4 580.0 490.2 89.8 40.5 700.9 533.2 486.6 96.6 43.1 696.3 576.5 476.5 99.9 40.9 702.1 577.9 476.9 101.0 41.6 716.9 531.2 476.6 104.5 42.5 727.0 583.6 477.2 106.4 46.6 719.6 593.1 490.1 103.0 42.5 734.8 593.9 492.2 101.3 46.0 752.9 601.0 495.4 105.5 42 43 151.6 4125.7 162.3 4185.3 173.6 4067.5 175.6 4216.6 153.0 4609.2 160.6 4717.3 170.7 4736.4 164.9 4906.0 140.5 5127.0 161.3 4979.2 175. 1 4315.0 176.3 Trade c-edit net of trade debt 42 5064.9 Market value of equities 43 44 45 46 1394.0 1063.9 1768.1 1403.4 1067.5 1773.0 1420.2 1065.9 1777.3 1425.7 1060.5 1738.2 1AJ4.0 1066.4 1307.9 1453.1 1062.0 1801.5 1466.2 1067.4 1810.4 1484.2 1054.1 1312.5 1496.3 1057.3 1826.3 1499.2 1036.5 1352.7 1511.0 1107.9 1335.2 1513.3 Securities and mortgages 1124.9 Loans 3^0 snort-term paper 1923.8 Total s-t liabilities 14) 47 48 49 56 77. 43.27 45.3Z 56.7Z 4 3.27, 4 4.37. 57.1Z 42.3X 45.37. 57.37. 42.67 44.9Z 57.37. 42.6Z 44. az 57.77 42.27 44.2Z 57.3Z 42.1Z 43.97. 58.47. 41.57 4 3.77. 58.6X 41.37 43.3X 57.97 42.07, 4 3.27. 57.67. 42.37. 43.57 Liquid assets Checkable dep. S currency Small time 8 savings dep. Large time deposits Money mkt. fund snares Security RPs Foreign deposits U.S. government securities Treasury Agency Tax-exempt securities Commercial paper 4042.7 Total liabilities 2642.9 Credit market instruments 111.9 Tax-exempt debt (3) 1254.3 Corporate bonds fl) 151.3 Mortgages 3ank loans n.e.c. Commercial paper Other loans Savings institutions Finance companies U.S. government Acceptance liab.to banks Rest of the world ABS issuers Taxes payable Trade debt Miscellaneous liabilities Fgn. direct invest, in US Pen. fund contr. payaole 2 3 4 5 6 7 a 9 10 11 12 13 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 Memo: Debt subtotals: 44 45 46 Percent ratios: 57.47. L-t debt/credit market debt 42.57. S-t debt/c<*adit market debt 42.47. Liquid assets/s-t liabil. (1) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those oond issues. BILLIONS OF DOLLARS, END OF PERIOD. the Federal National Mortgage Association. (2) Equity m (3) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest 3rd principal by the industrial user of the funds. (4) Loans 'except mortgages), short-term paper, taxes payable, and trade debt. Includes loans due in more than one year and excludes current maturities of securities and mortgages. 47 43 49 DECEMBER 7, 1994 State and Local Governments 79 State and Local Governments L.105 State and Local Governments, Excluding Employee Retirement Funds (13 LEVELS, 1979-1990 LEVELS, 1979-1990 1 Total financial assets 2 3 4 Checkable dep. and currency Time deposits Security RPs 5 6 7 8 9 10 Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Mortgages 11 Taxes receivable 12 Total liabilities 13 14 15 16 17 Credit market instruments Tax-exempt securities Short-term Other U.S. government loans 18 Trade debt 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 238.4 249.3 256.6 286.3 333.3 376.8 521.5 575.9 636.5 680.1 712.4 723.0 1 13.0 60.8 8.8 12.4 58.8 14.0 11.0 61.1 13.2 9.4 64.9 15.6 8.7 58.6 30.9 13.8 58.9 42.8 14.3 65.9 51.0 17.3 63.2 56.5 16.5 75.3 77.2 19.5 73.4 96.9 19.9 70.6 98.8 18.9 67.9 75.1 2 3 4 139.1 108.8 71.5 37.3 6.8 23.6 144.4 104.0 69.3 34.7 7.0 33.4 153.6 105.5 72.4 33.1 7.1 41.0 177.1 123.4 81.7 41.7 7.4 46.3 212.9 150.8 104.1 46.7 8.0 54.2 238.3 164.9 120.4 44.4 9.0 64.4 362.8 280.7 216.1 64.6 7.8 74.2 404.1 310.4 239.2 71.2 7.7 86.0 437.1 334.4 283.2 51.2 8.1 94.7 456.5 348.5 311,5 36.9 9.6 93.4 435.8 369.1 317.7 51.-4 11.9 104.7 524.1 5 399.6 6 320.1 7 79.5 8 14.5 9 110.0 10 16.6 19.6 17.8 19.3 22.1 23.1 27.0 29.8 30.3 33.9 37.4 37,1 11 315.6 328.5 345.9 377.2 412.6 449.3 586.0 642.6 719.6 763.3 834.1 883.2 12 299.5 292.9 13.1 279.7 6.7 310.4 302.8 14.9 288.0 7.6 326.7 317.9 16.0 301.9 8.8 357.1 347.3 22.7 324.5 9.8 391.7 330.8 21.3 359.6 10.9 427.4 408.8 17.6 391.2 18.6 563.0 536.2 20.5 515.7 26.3 618.0 590.7 20.4 570.3 27.3 693.0 668.1 18.7 649.4 24.9 734.5 725.5 21.2 704.4 9.0 802.5 793.8 25.3 768.5 8.8 848.6 838.9 29.1 809.9 9.6 16.1 18.1 19.2 20.1 20.9 21.9 23.0 24.6 26.6 28.8 31.5 (1) Data for employee retirement funds are shown in table L.124. BILLIONS OF DOLLARS, END OF PERIOD. 13 14 15 16 17 34.6 18 DECEMBER 7, 1994 State and Local Governments State and Local Governments L.105 State and Local Governments, Excluding Employee Retirement Punds (1) LEVELS, 1991-1994 1991 I IV 1 I II 1992 III IV I ( II I 1993 III IV I 11 I 1994 II III 1 732.0 724.0 732.4 724.4 715.9 732.4 718.0 712.R 690.6 681.6 664.9 2 3 4 23.5 56.0 60.2 21.3 59.3 60.4 22.7 53.9 67.2 25.0 55.0 69.5 26.6 51.6 72.0 25.5 55.0 75.7 27.9 50.4 73.9 28.2 48.0 75.7 28.0 47.0 80.9 27.9 49.9 75.4 28.9 47.0 76.0 26.5 48.2 75.3 5 6 7 8 9 10 553.3 423.7 334.3 69.4 15.9 113.7 544.9 415.7 334.6 80.6 15.5 113.7 549.5 420.3 334.9 65.4 15.3 113.9 535.5 406.5 325.7 80.6 15.2 113.8 526.5 397.6 321.4 76.2 15.3 113.7 537.3 408.4 329.6 76.6 15.2 113.7 526.2 400.7 340.3 60.5 14.9 110.6 521.5 397.0 341.2 55.6 15.1 109.5 495.6 372.5 337.6 34.9 14.8 108.3 489.5 367.3 337.0 30.3 14.4 107.8 473.6 352.0 335.1 17.0 13.7 107.9 446.6 328.5 321.4 7.0 12.8 107.4 11 37.0 36.2 39.2 39.4 38.9 38.9 39.5 39.5 39.1 38.9 39.4 12 936.6 945.3 962.6 963.6 955.3 975.6 1013.0 1016.3 1021.6 1022.9 1025.8 13 14 15 16 17 911.1 901.1 35.0 866.2 10.0 918.9 908.6 34.5 874.3 10.1 935.9 925.9 39.0 866.9 10.0 936.2 926.2 38.0 688.2 10.0 927.S 917,7 34.5 883.2 9.9 947.6 937.9 35.1 902.6 9.8 984.9 975.3 45.3 930.0 9.6 986.0 978.5 36.2 940.3 9.4 993.2 983.9 39.6 944.3 9.2 994.4 985.4 38.9 946.5 9.0 997.2 988.4 43.6 944.9 8.8 975.7 967.2 33.5 933.7 8.5 Id 25.4 26.4 26.6 27.4 27.7 28.0 26.1 28.3 28.4 28.4 28.6 26.7 638.2 Total financial assets 39.6 Checkable dep. and currency Time deposits Security RFs BILLIONS OF DOLLARS, END CF PERIOD. I 2 3 4 Credit market Instruments 5 U.S. government securities 6 Treasury 7 Agency 8 Tax-exempt securities 9 Mortgages 10 Taxes receivable 1004.4 Total liabilities ll 12 Credit market instruments Tax-exempt securities Short-term Other U.S. government loans 13 14 IS 16 17 Trade debt 18 (1) Data for employee retirement funds are shown In table L.124. 80 LEVELS, 1991-1994 DECEMBER 1, 1994 U.S. Govt., GSEs, and Pools 81 U.S. Govt., GSEs, and Pools L.106-L.106 U.S. Government, GSEs, and Mortgage Pools LEVELS, 1979-1990 LEVELS, 1979-1990 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 L.108 U.S. Government 1 Total financial assets Gold, SDRs 8 off. fgn. exch. Checkable dep. and currency Time deposits 2 3 4 Credit market instruments Agency securities Mortgages Other loans Taxes receivable Trade credit Miscellaneous assets 5 6 7 8 9 10 11 12 Total liabilities 13 SDR certificates 14 15 16 17 16 Treasury currency Credit market instruments Savings bonds Other Treasury securities Budget agency secur.Smtg. 19 20 21 Insur.and pen. reserves Trade debt Miscellaneous liabilities 200.2 228.7 249.8 281.1 290.7 327.7 371.6 385.4 37 0.8 361.0 368.6 440.6 1 5.3 19.2 1.0 10.6 16.2 0.8 13.8 17.4 0.7 17.1 24.5 1.1 19.0 16.4 0.7 20.3 21.8 1.2 25.1 34.0 1.2 28.0 32.8 1.4 29.1 21.4 1.7 27.7 32.1 1.4 31.7 26.1 1.3 39.7 25.4 1.4 2 3 4 140.0 34.6 105.4 14.9 11.3 8.5 163.8 42.1 121.7 12.2 15.1 10.1 187.8 47.0 140.7 1.7 17.6 10.9 203.6 49.4 154.2 22.4 12.4 213.2 50.6 162.6 2.1 26.2 13.1 230.1 51.5 178.7 7.9 31.3 15.0 248.6 53.3 195.3 11.3 35.0 16.4 255.2 54.4 200.9 18.4 32.6 16.9 240.5 49.1 191.4 19.3 41.0 17.9 213.8 48.0 165.8 24.5 41.1 20.3 205.4 47.3 158.2 23.3 44.5 35.6 239.0 5 6 82.9 7 156.2 3 22.5 9 42.8 10 69.8 11 766.7 855.4 952.6 1129.5 1332.3 1551.5 1801.4 2049.1 2216.2 2398.7 2581.5 2846.5 12 1.8 2.5 3.3 4.6 4.6 4.6 4.7 5.0 5.0 5.0 8.5 10.0 13 10.5 657.7 79.9 572.2 5.6 11.1 735.0 72.5 657.5 5.0 11.5 820.5 68.2 747.7 4.5 11.9 981.8 68.3 909.8 3.7 12.3 1167.0 71.5 1092.0 3.6 12.9 1364.2 74.5 1286.3 3.4 13.3 1589.9 79.8 1506.8 3.3 13.8 1805.9 93.3 1708.9 3.6 14.2 1949.8 101.1 1843.5 5.2 14.7 2104.9 109.6 1972.7 22.6 15.3 2251.2 117.7 2109.3 24.2 76.7 20.0 ft 85.5 21.3 ft 95.5 21.8 ft 107.5 23.7 * 121.7 26.7 ft 139.9 29.9 ft 159.0 34.5 - 180.1 44.4 - 199.2 46.8 1.2 219.2 49.1 5.8 240.4 58.3 7.3 262.4 19 52.0 20 7.7 21 16.3 2498.1 126.2 2339.6 32.4 14 15 16 17 18 L.107 Government-Sponsored Enterprises (GSEs) (1) 1 Total financial assets Checkable dep. 3nd currency 2 Fed. funds and security RPs 3 4 5 6 7 8 9 10 11 12 Credit market instruments U.S. government securities Treasury Agency Mortgages Home Multifamily Farm Open market paper 13 14 15 16 17 18 Other loans Student loans (SLMA) Loans to farmers (FICB) Loans to co-ops (BC) FHLB loans to members Miscellaneous assets 19 Total liabilities Credit market instruments 20 21 GSE issues (2) U.S. government loans 22 23 Miscellaneous liabilities 164.1 0.5 4.2 193.3 0.5 6.0 230.5 0.7 9.5 252.7 0.6 14.9 254.7 0.8 12.6 295.8 1.3 20.9 322.7 2.1 26.9 345.2 3.7 29.4 372.7 3.6 27.2 419.3 3.6 33.3 451.4 2.3 61.8 474.5 2.1 68.7 158.1 1.8 1.2 0.6 86.6 50.1 6.6 29.9 0.3 184.5 2.5 1.7 0.8 100.8 57.8 6.7 36.3 0.4 217.7 2.9 1.9 1.0 113.4 64.0 5.5 43.9 0.7 233.7 4.3 3.4 0.9 127.5 74.3 5.4 47.8 0.4 237.1 3.1 2.6 0.5 137.9 83.7 5.3 48.9 0.8 266.8 4.7 3.9 0.7 150.1 94.4 6.5 49.2 0.7 292.1 9.2 8.4 0.8 159.7 106.6 8.5 44.7 0.1 308.9 18.8 18.6 0.2 147.8 101.4 8.7 37.6 0.1 332.7 23.6 23.4 0.1 139.5 98.9 8.4 32.1 ft 365.3 29.5 29.2 0.3 144.5 104.7 9.5 30.2 0.4 361.7 22.1 15.9 6.2 150.5 110.0 12.0 28.4 3.3 375.6 4 49.9 5 38.0 6 11.9 7 156.1 3 115.3 9 13.2 10 27.6 11 3.8 12 69.3 1.5 17.5 8.4 41.3 1.3 80.8 2.6 19.4 9.8 49.0 2.3 100.7 4.8 21.2 9.5 65.2 2.6 101.5 6.4 20.4 3.7 66.0 3.6 95.4 7.9 19.0 9.5 59.0 4.2 111.4 9.8 17.8 9.1 74.6 6.7 123.1 12.3 13.9 8.1 88.8 l.S 142.3 14.7 11.6 7.4 108.6 3.2 169.6 18.4 9.9 8.2 133.1 9.2 191.5 21.2 7.6 9.9 152.8 16.2 135.3 24.6 9.5 9.9 141.8 25.7 165.8 28.8 9.8 10.1 117.1 28.1 13 14 15 16 17 18 161.8 137.0 135.5 1 .5 191.0 162.6 159.9 2.7 228.1 195.0 190.4 4.6 249.1 210.4 205.4 5.0 250.3 211.8 206.8 5.0 291.0 242.2 237.2 5.0 319.6 263.9 257.8 6.1 342.8 278.7 273.0 5.7 370.1 303.2 303.2 5.0 416.1 353.1 348.1 5.0 447.6 378.3 373.3 5.0 469.1 398.5 393.7 4.9 19 20 21 22 24.8 28.4 33.0 38.8 33.5 48.8 55.7 64.0 61.9 63.1 69.3 1 2 3 70.6 23 (1) Federal Home Loan Banks, Federal National Mortgage Assn Federal Home Loan Mortgage Corp ., Student Loan Market ing Assn., Federal Land Banks, Federal Intermediate Credit Banks, Banks for Cooperatives, the Financing Corp., and the Resolution Funding Corporation. (2) Such issues are classified as U .S. government securities. L.108 Federally Related Mortgage Pools (3) 1 Total mortgage holdings Home 2 Multifamily 3 Farm 4 94.8 88.4 5.3 1.0 114.0 107.1 6.0 0.9 129.0 125.0 3.2 0.7 178.5 174.3 3.6 0.6 244.9 239.5 4.8 0.5 289.0 283.0 5.5 0.5 368.9 361.5 7.0 0.4 531.6 519.7 11.9 0.1 670.4 654.0 16.4 0.1 745.3 723.6 21.6 369.5 842.3 27.2 N 1019.9 990.4 29.5 X 1 2 3 4 5 Total pool securities (4) 94.8 114.0 129.0 178.5 244.9 289.0 368.9 531.6 670.4 745.3 869.5 1019.9 5 (3) GNMA, FNMA, FHLMC, and Farmers Home Administration pools. Also includes federally related pools that are used as collateral for federally related agency-Issued CMOs 3nd privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with U.S. government mortgages and other loans. (4) Such issues are classified as U.S. government securities. BILLIONS OF DOLLARS, END OF PERIOD. DECEMBER 7, 1994 U.S. Govt./ GSEs» and Pools U.S. Govt;., GSEs, and Pools L.106-L.108 U.S. Government, GSEs, and Mortgage Pools 82 LEVELS, 1991-1994 1991 I IV I LEVELS, 1991-1994 1992 II I I 1 IV III I I 1993 I IV III II 1994 II I III L.106 U.S. Government 1 498.5 493.7 515.2 516.7 473.9 474.5 491.7 478.5 474.0 470.1 463.5 2 3 4 39.1 50.9 1.6 37.6 23.4 1.9 41.6 49.0 2.2 43.1 59.3 2.2 38.8 31.7 0.9 41.1 22.7 0.9 40.7 61.8 0.8 41.6 53.9 0.8 40.2 52.2 0.8 42.6 46.0 0.7 42.4 51.7 0.7 42.4 36.4 0.7 5 6 7 8 9 10 11 246.9 98.3 148.6 16.4 37.8 105.8 251.3 102.5 148.8 27.6 38.3 113.6 246.4 97.8 148.6 18.4 35.5 122.1 239.3 90.6 148.8 17.0 32.4 123.4 235.0 86.4 148.6 15.5 30.8 121.2 229.4 81.9 147.5 29.5 30.1 120.7 223.1 76.4 146.7 17.3 28.1 119.8 218.8 73.2 145.6 19.1 28.7 115.6 216.6 70.9 145.7 18.9 28.0 117.3 206.3 66.8 139.5 34.7 25.8 114.0 204.7 66.5 138.2 21.3 24.9 117.8 202.6 67.5 135.1 24.8 24.9 115.3 12 3144.9 3221.3 3289.8 3385.4 3471.8 3523.9 3592.7 3658.0 3757.1 3801.1 3815.2 13 10.0 10.0 10.0 10.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 14 IS 16 17 18 16.3 2776.4 138.1 2619.7 18.6 16.3 2859.7 142.0 2702.0 15.8 16.4 2923.3 145.4 2762.1 15.9 16.4 2998.9 150.3 2830.4 18.1 16.5 3080.3 157.3 2904.3 18.8 16.6 3140.2 163.6 2957.0 19.6 16.7 3201.2 166.5 3014.1 20.6 16.8 3247.3 169.1 3053.5 24.7 17.0 3336.5 171.9 3138.0 26.6 17.1 3387.7 175.0 3186.4 26.3 17.3 3395.5 177.1 3190.8 27.5 17.5 3432.5 178.6 3225.3 28.6 19 20 21 288.0 47.3 7.0 283.4 45.2 6.7 290.2 42.9 6.9 307.6 45.9 6.6 315.0 45.1 6.9 309.9 42.4 6.8 317.1 42.9 6.8 334.8 44.5 6.5 342.2 46.7 6.8 337.0 44.7 6.5 344.2 43.7 6.6 361.9 43.9 6.6 L.107 Government-Sponsored Enterprises (GSEs) 447.2 Total financial assets Gold, SDRs & off. fgn. exch. Checkable dep. and currency Time deposits Credit market instruments Agency securities Mortgages Other loans Taxes receivable Trade credit Miscellaneous assets 3870.4 Total liabilities 1 2 3 4 5 6 7 8 9 10 ll 12 SDR certificates 13 Treasury currency Credit market instruments Savings bonds Other Treasury securities Budget agency secur.Smtg. 14 15 16 17 18 Insur.and pen. reserves Trade debt Miscellaneous liabilities 19 20 21 (1) 1 2 3 493.6 1.2 67.6 508.7 1.3 68.8 517.6 1.0 67.5 539.6 0.9 71.8 548.9 1.2 66.6 545.3 1.0 57.3 569.2 0.8 49.6 609.2 1.3 48.6 627.2 2.1 50.3 650.7 1.7 53.9 680.7 1,6 61.8 716.4 Total financial assats 1.6 Cneckable dep. and currency 66.7 Fed. funds and security RPs 4 5 6 7 8 9 10 11 12 390.7 78.4 43.7 34.7 167.9 126.2 14.6 27.1 10.9 412.9 96.9 56.7 40.3 175.9 133.7 15.1 27.1 8.2 422.0 99.3 54.2 45.0 180.3 137.9 15.3 27.1 9.0 439.3 102.8 57.9 44.9 186.9 144.1 15.7 27.1 12.2 459.7 108.9 61.9 47.0 199.9 156.7 16.2 27.0 13.5 463.0 105.7 59.3 46.4 205.1 161.8 16.5 26.9 9.5 495.5 112.4 63.4 49.0 222.6 178.9 16.7 26.9 10.0 531.8 127.1 72.0 55.1 233.4 189.0 17.3 27.1 13.4 549.8 127.6 60.4 67.2 246.6 201.9 17.9 26.8 11.9 572.0 142.3 66.8 75.6 256.7 211.8 18.3 26.5 10.2 597.9 155.9 70.3 85.6 261.2 215.9 18.5 26.8 9.6 631.9 173.8 70.5 103.3 266.8 221.4 18.6 26.9 11.0 Credit market instruments 4 U.S. government securities 5 Treasury 6 Agency 7 Mortgages 8 Home 9 Multifamily 10 Farm 11 Open market paper 12 13 14 15 16 17 18 133.6 31.8 11.2 11.5 79.1 34.1 131.9 32.3 10.7 12.7 76.3 25.9 133.4 33.1 11.4 12.1 76.9 27.1 137.4 33.7 11.5 12.0 80.2 27.7 137.4 33.4 11.4 12.6 79.9 21.4 142.6 33.9 10.4 13.4 85.0 24.1 150.5 34.3 11.1 13.0 92.1 23.2 158.0 34.6 11.4 13.0 98.9 27.5 163.8 35.2 11.6 13.9 103.1 24.9 162.8 36.1 11.4 14.9 100.4 23.0 171.2 36.7 12.3 13.7 108.5 19.4 180.3 38.1 12.3 13.7 116.2 16.1 Other loans Student loans (SLMA) Loans to farmers (FICS1 Loans to co-ops (BC) FHLB loans to members Miscellaneous assets 19 20 21 22 486.0 407.7 402.9 4.8 500.8 410.5 405.7 4.8 508.5 422.6 417.8 4.3 530.2 439.5 434.7 4.8 538.7 447.9 443.1 4.8 534.3 456.0 451.2 4.8 557.7 473.2 468.4 4.8 597.0 515.1 510.3 4.8 614.4 528.5 523.7 4.8 637.3 563.7 563.7 - 666.7 600.3 600.3 - 702.4 Total liabilities 638.3 Credit market instruments 638.3 GSE issues (2) U.S. government loans - 19 20 21 22 23 78.3 90.3 85.9 90.7 90.8 78.4 84.6 81.9 85.9 73.6 66.4 Miscellaneous liabilities 23 64.0 I 2 3 13 14 15 16 17 18 (1) Federal Home Loan Banks, Federal National Mortgage Assn., Federal Home Loan Mortgage Corp., Student Loan Marketing Assn., Federal Land Banks, Federal Intermediate Credit Banks, Banks for Cooperatives, the Financing Corp., and the Resolution Funding Corporation. (2) Such issues are classified as U.S. government securities. L.108 Federally Related Mortgage Pools (3) 1 2 3 4 1156.5 1130.4 26.1 1179.8 1154.1 25.6 1219.0 1194.0 25.0 * 1244.0 1219.3 24.7 1272.0 1248.2 23.8 1299.8 1276.6 23.2 1301.3 1278.7 22.6 5 1156.5 1179.8 1219.0 1244.0 1272.0 1299.8 1301.3 X X X X X X 1330.1 1307.7 22.3 1352.6 1330.2 22.5 1390.8 1368.5 22.3 1420.8 1398.5 22.3 1437.6 Total mortgage holdings Home 1415.5 22. 1 Multifamily X Farm 1 2 3 4 1330.1 1352.6 1390.8 1420.8 1437.6 Total pool securities (4) 5 X X X X Also (3) GNMA, FNMA, FHLMC, and Farmers Home Administration pools. includes federally related pools that are used as collateral for federally related agency-issued CMOs and orivately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with U.S. government mortgages and other loans. (4) Such issues are classified as U.S. government securities. BILLIONS CF DOLLARS, END OF PERIOD DECEMBER 7, 1994 Rest of the World Rest of the World L.109 Rest of the World 83 LEVELS, 1979-1990 LEVELS, 1979-1990 1 Total financial assets 2 U.S. checkable dep. U.S. time deposits 3 4 Net interbank claims 1979 1980 1981 1982 1983 1984 1985 394.2 23.4 24.6 9.5 458.8 23.5 25.8 -17.1 480.2 19.7 28.1 -55.8 530.0 16.0 34.9 -62.5 629.0 17.5 35.4 -50.3 741.1 19.7 40.0 -47.5 4.1 48.3 161.0 121.9 106.6 101.7 4.9 15.3 14.2 1.1 27.7 2.9 8.4 4.4 64.6 186.5 135.8 118.2 111.3 6.9 17.6 16.1 1.4 36.9 4.5 9.3 4.4 64.4 217.0 145.3 125.1 117.0 8.1 20.2 18.5 1.7 47.9 15.7 8.0 6.0 76.3 255.8 160.4 132.5 124.9 7.7 27.8 25.8 2.0 68.3 20.9 6.3 6.7 96.4 282.5 173.3 137.0 129.7 7.3 36.3 33.8 2.5 74.9 27.2 7.1 1986 1987 1988 1989 1990 894.2 21.2 43.7 -30.9 1091.0 23.9 41.0 -15.2 1263.5 22.5 42.0 29.3 1478.1 22.0 45.0 35.2 1770.2 22.5 43.1 27.7 1879.0 22.2 42.6 53.3 1 2 3 4 6.8 96.1 361.0 210.4 144.7 138.2 6.5 65.8 62.1 3.7 90.5 51.7 8.3 7.5 125.6 436.2 241.3 145.1 138.4 6.6 96.2 88.0 8.3 126.4 60.3 8.2 10.9 168.9 547.8 291.5 178.9 173.3 5.6 112.5 96.1 16.5 166.6 81.7 8.0 13.1 175.6 604.0 323.1 220.5 213.7 6.8 102.5 82.6 19.9 185.4 86.5 9.0 13.0 201.0 709.8 387.2 260.9 253.0 8.0 126.2 100.9 25.4 199.3 111.5 11.9 17.2 251.2 833.3 469.3 263.7 257.3 6.4 205.5 166.5 39.1 211.9 137.9 14.2 16.7 221.7 918.3 502.1 295.0 287.9 7.1 207.0 162.4 44.6 217.2 186.7 12.3 5 6 7 8 9 10 11 12 13 14 15 16 17 5 6 7 8 9 10 11 12 13 14 15 16 17 Security RPs U.S. corporate equities Credit market instruments U.S. government securities Official holdings Treasury Agency Private holdings Treasury Agency U.S. corporate bonds (1) Loans to U.S. corp. bus. Open market paper 18 19 Security credit Trade credit 25.2 28.6 28.4 30.1 30.3 31.1 31.7 32.8 33.1 35.7 38.0 18 44.2 19 20 21 22 Miscellaneous assets Fgn. dir. inv. in US (2) Other 98.1 88.3 9.8 142.5 125.9 16.6 173.9 159.9 14.0 173.3 176.9 -3.5 210.6 184.4 26.2 234.1 211.2 22.9 259.3 231.3 28.0 281.0 265.8 15.2 344.0 313.5 30.6 416.5 374.3 42.1 537.2 436.6 100.6 560.1 20 468.1 21 91.9 22 585.6 672.8 727.6 767.2 857.5 352.8 383.8 954.2 1036.7 1133.0 1274.2 1390.3 23 5.1 26.9 13.0 31.4 14.8 41.8 17.6 55.2 17.6 147.3 18.2 144.7 24.8 153.2 29.1 184.6 24.4 196.1 27.1 218.2 53.6 262.9 61.3 24 304.3 25 172.9 47.8 197.2 49.0 220.7 54.5 210.4 61.1 227.7 64.2 235.5 68.0 236.7 71.8 238.3 74.9 245.0 82.3 251.4 39.2 261.2 94.1 285.0 26 115.4 27 23 Total liabilities U.S. official fgn. exchange and net IMF position U.S. private deposits 24 25 26 27 Credit market instruments Corporate bonds 28 29 30 31 Bank loans n.e.c. Official Banks Other 53.0 7.3 21.6 24.1 64.8 11.9 26.3 26.6 67.8 12.6 21 .8 33.3 33.8 5.4 15.1 13.3 37.4 8.5 14.2 14.3 30.8 7.6 11.0 12.2 27.9 6.2 9.7 12.1 26.9 6.2 10.7 10.0 23.3 5.3 7.8 10.2 21.5 4.8 7.8 8.9 21.4 3.4 8.6 9.4 18.5 2.8 5.9 9.8 32 33 34 Commercial paper Acceptance liabs. to banks U.S. government loans 4.6 18.6 48.9 7.0 22.7 53.8 10.8 29.6 57.9 15.1 38.2 62.3 21.5 38.0 66.6 27.7 39.0 70.0 33.9 31.6 71.4 37.4 26.3 72.8 41.2 27.3 70.9 49.9 24.9 65.8 63.0 19.6 63.2 75.3 32 16.3 33 59.3 34 20.2 25 .'6 26.3 18.3 17.2 16.5 16.3 15.6 18.1 25.8 28.6 35 27.4 36 28 29 30 31 35 36 Security debt Trade debt 37 38 39 40 41 Miscellaneous liabilities U.S. eq. in IBRD, etc. U.S. government deposits U.S. dir. inv. abr. (1)(2) Other 360.5 7.5 0.9 348.2 3.8 405.7 8.3 1.8 404.2 -8.7 424.1 9.3 1.6 426.4 -13.2 465.8 10.6 1 .8 419.8 33.6 447.7 11.3 1.8 410.0 24.7 437.9 12.9 2.1 403.6 19.4 452.8 14.4 1.9 424.7 11.8 486.7 15.9 0.9 454.3 15.0 553.1 17.2 0.8 523.2 12.0 610.4 19.6 0.7 538.2 52.0 667.9 20.7 0.6 577.2 69.4 712.4 22.0 0.6 632.6 57.1 42 Memo: Market value of fgn.equities held by US residents 14.8 18.9 16.5 17.4 26.2 26.0 41.0 63.0 69.6 86.0 119.9 110.0 42 (1) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment aoroad excludes net inflows from those bond issues. (2) Direct investment is valued on a current-cost basis. BILLIONS OF OOLLARS. END OF PERIOD. 37 38 39 40 41 DECEMBER 7, 1994 Rest of the World Rest of the World L.109 Rest of the World LEVELS, 1991-1994 1991 IV I 1 LEVELS, 1991-1994 1992 I II III IV I I 1993 II I III IV I 1 I 1994 II III 1 2 3 4 2010.6 20.8 42.0 36.3 1997.7 19.8 38.1 21.8 2062.9 21.4 37.9 40.6 2089.9 23.0 38.0 67.6 2160.4 22.3 38.8 74.2 2193.2 21.4 38.0 75.3 2259.3 21.3 38.3 88.3 2349.5 25.4 37.3 107.7 2469.6 21.6 37.1 111.3 2550.5 23. 0 37.4 141.2 2557.7 24.6 38.1 161.9 2681.1 Total financial assets U.S. checkable dep. 23.6 38.5 U.S. time deposits 180.4 Net interbank claims 5 6 7 8 9 10 11 12 13 14 15 16 17 16.8 271.9 958.1 559.0 315.9 307.1 8.8 243.1 189.5 53.6 233.4 152.7 13.0 19.5 268.7 980.6 577.7 331.3 322.0 9.3 246.4 190.1 56.3 236.7 154.2 12.1 21.8 267.2 1017.4 605.8 344.3 333.3 ll.O 261.5 200.3 61.3 243.2 155.9 12.6 21.1 262.0 1036.9 611.8 344.9 332.9 11.9 266.9 205.1 61.8 249.2 162.1 13.8 23.5 300.2 1052.7 628.4 335.7 323.0 12.7 292.7 224.8 67.9 251.5 159.9 12.9 24.0 305.3 1061.8 645.3 337.4 324.0 13.4 307.9 238.8 69.0 247.7 155.9 12.9 26.8 306.4 1084.0 659.3 344.2 329.7 14.5 315.1 238.2 76.9 254.9 150.0 19.8 28.2 308.8 1118.1 691.6 364.6 348.3 15.8 327.0 241.7 85.3 261.7 144.7 20.1 27.7 340.0 1175.1 742.6 388.5 370.9 17.6 354.1 254.1 100.0 273.0 141.0 18.6 28.3 345.9 1206.8 759.9 389.8 372.1 17.7 370.1 263.3 106.7 280.8 143.3 22.8 29.2 343.4 1219.1 763.3 398.4 378.3 20.1 365.3 255.7 109.7 292.9 139.5 23.0 33.1 344.0 1250.4 789.8 413.8 391.3 22.5 376.1 263.6 112.5 302.7 137.9 19.9 18 19 43.5 43.8 45.7 46.6 46.3 47.4 47.4 51.2 49.8 51.4 51.9 52.5 20 21 22 621.3 491.9 129.4 605.3 491.3 114.0 610.9 495.0 115.9 594.8 497.5 97.2 602.5 497.1 105.4 619.9 498.1 121.8 646.7 507.5 139.2 672.8 511.0 161.9 707.2 516.7 190.4 716.4 528.4 188.1 689.5 532.8 156.6 758.7 540.3 218.4 1 2 3 4 Security RPs U.S. corporate equities Credit market instruments U.S. government securities Official holdings Treasury Agency Private holdings Treasury Agency U.S. corporate bonds (1) Loans to U.S. corp. bus. Open market paper 5 6 7 8 9 10 11 12 13 14 15 16 17 Security credit Trade credit 18 19 Miscellaneous assets Fgn. dir. inv. in US (2) Other 20 21 22 23 1392.8 1337.5 1371.0 1396.8 1387.8 1404.5 1439.2 1451.5 1497.1 1520.4 1526.1 24 25 55.4 289.6 52.7 280.6 54.4 277.5 55.4 288.3 51.8 280.1 54.5 277.1 53.9 272.8 55.6 260.2 53.4 258.0 56.4 264.3 54.9 273.2 26 27 298.8 129.5 287.3 129.8 303.0 134.4 309.2 137.5 310.9 143.9 319.8 160.6 332.0 171.9 351.3 193.0 357.8 203.4 340.3 210.6 341.2 213.4 339.0 215.0 28 29 30 31 21.6 2.4 6.9 12.3 22.0 2.4 7.1 12.5 25.5 2.6 8.6 14.4 26.5 2.9 9.0 14.6 23.9 3.3 7.6 13.0 24.3 3.0 8.2 13.1 25.9 3.1 9.0 13.9 26.2 3.4 9.5 13.3 24.6 2.4 8.8 13.5 26.2 2.7 9.6 13.9 26.0 2.1 9.6 14.3 26.2 2.4 9.3 14.5 Bank loans n.e.c. Official Banks Other 32 33 34 81.8 12.0 53.9 70.5 11.6 54.0 77.4 11.7 53.9 '80.7 10.4 54.1 77.7 11.3 54.1 72.3 9.5 53.2 72.1 9.2 52.3 71.7 8.2 52.2 68.7 8.2 52.9 43.3 7.9 52.3 42.0 7.9 52.0 39.9 7.8 50.0 Commercial paper 32 Acceptance liabs. to banks 33 U.S. government loans 34 35 36 30.4 30.0 30.0 31.0 31.6 33.4 33.2 32.2 33.2 32.8 33.8 34.4 37 38 39 40 41 718.5 23.5 1.6 661.7 31.7 686.5 23.8 1.6 680.0 -19.0 706.1 24.1 1.8 688.9 -8.7 713.0 24.5 1.5 693.4 -6.5 713.5 25.0 1.6 676.7 10.2 719.7 25.2 2.0 680.1 12.4 747.3 25.4 2.4 699.2 20.3 752.3 25.7 2.9 706.6 17.0 794.7 26.1 1.9 716.2 50.6 826.6 26.3 1.8 742.2 56.3 822.9 26.7 1.9 751.8 42.5 876.5 27.1 2.1 763.8 83.6 42 158.8 166.1 168.9 177.6 178.1 190.4 203.0 233.4 297.7 313.8 307.9 323.1 1579.9 Total liabilities U.S. official fgn. exchange 55.5 and net IMF position 274.5 U.S. private deposits Credit market instruments Coroorate bonds 26 27 28 29 30 31 Security debt Trade debt 35 36 Miscellaneous liabilities U.S. eq. in I3RD, etc. U.S. government deposits U.S. dir. inv. abr. (1)(2) Other 37 38 39 40 41 Memo: Market value of fgn.equities 42 held by US residents (1) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues. (2) Direct investment is valued on a current-cost basis. BILLIONS OF DOLLARS, END OF PERIOD 23 24 25 DECEMBER 7, 1994 Banking System Banking System L.110-L. Ill Monetary Authority and Commercial Banking 85 LEVECS7-1979-1990 LEVELS, 1979-1990 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 L.110 Monetary Author ity (1) 1 Total financial assets Gold and foreign exchange 2 Treasury currency 3 SDR certificates 4 Federal Reserve float 5 F.R. loans to domestic banks 6 Security RPs 7 166.7 13.6 13.1 1.8 6.8 1.5 2.4 173.7 16.2 13.8 2.5 4.5 1.8 3.3 181.9 16.2 14.5 3.3 1.8 1.6 3.7 194.3 16.9 15.0 4.6 2.7 0.7 5.8 203.7 14.8 15.7 4.6 1.6 0.9 2.0 218.2 14.6 16.4 4.6 0.9 3.6 2.0 243.2 18.1 17.1 4.7 1.0 3.1 5.2 275.1 20.5 17.6 5.0 1.3 1.6 16.0 285.8 16.7 18.2 5.0 0.8 3.8 1.3 304.3 20.1 18.8 5.0 1.3 2.2 6.9 315.5 42.9 19.6 8.5 1.1 0.5 2.1 343.5 43.6 20.4 10.0 2.6 0.2 18.4 1 2 3 4 5 6 7 Credit market instruments U.S. government securities Treasury Agency Acceptances Bank loans n.e.c. Miscellaneous assets 124.5 124.5 116.3 8.2 3.0 128.0 128.0 119.3 8.7 3.5 136.9 136.9 127.7 9.1 4.0 144.5 144.5 135.6 8.9 3.9 159.2 159.2 150.6 8.6 4.9 167.6 167.6 159.2 8.4 8.5 186.0 186.0 177.3 8.2 8.0 205.5 205.5 197.6 7.8 7.7 230.1 230.1 222.6 7.6 9.9 240.6 240.6 233.7 7.0 9.4 233.3 233.3 226.8 6.5 7.5 241.4 241.4 235.1 6.3 6.9 8 9 10 11 12 13 14 165.5 29.8 18.5 172.5 27.5 19.8 180.6 25.2 18.6 192.9 26.5 19.5 202.2 21.4 21.0 216.6 21.8 24.2 241.4 28.6 25.5 273.2 48.1 25.7 283.8 41.8 24.9 302.2 39.3 27.6 313.2 35.6 28.7 341.1 15 38.7 16 32.6 17 112.5 4.6 0.8 107.1 121.5 3.5 0.5 117.5 132.4 4.7 0.7 126.9 142.5 5.5 0.4 136.6 155.5 4.1 0.5 150.9 165.8 5.8 0.4 159.6 182.4 9.9 0.5 171.9 194.7 8.0 0.4 186.3 211.4 5.8 0.3 205.4 229.5 9.1 0.4 220.1 239.1 6.7 0.6 231.8 264.3 9.5 0.4 254.4 4.8 1.1 3.6 3.8 1.2 2.6 4.4 1.3 3.1 4.4 1.4 3.0 4.2 1.5 2.8 4.8 1.6 3.1 4.8 1.3 3.1 4.7 1.9 2.8 5.7 2.0 3.7 5.8 2.1 3.6 10.0 2.2 7.7 8 9 10 11 12 13 14 15 Total liabilities 16 Depository inst. reserves 17 Vault cash of comm, banks 18 19 20 21 Checkable dep. and currency Due to U.S. government Due to rest of the world Currency outside banks 22 23 24 Miscellaneous liabilities Federal Reserve Bank stock Other 18 19 20 21 5.6 22 2.4 23 3.1 24 (1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board. L.lll Commercial Banking (2) 1355.2 2.4 1169.7 147.6 95.6 52.0 1481.7 2.8 1271.1 173.3 111.5 61.8 1618.6 2.9 1373.4 185.3 113.a 71.6 1730.9 3.4 1450.3 212.9 134.0 78.8 1887.2 3.6 1589.2 259.5 179.5 80.0 2127.0 4.1 1765.1 260.4 181.5 78.9 2376.3 4.5 1975.0 266.3 189.4 77.5 2619.6 4.4 2172.9 312.8 197.7 115.1 2774.4 3.6 2297.5 338.9 194.4 144.5 2952.4 3.0 2455.9 360.6 185.3 175.3 3232.0 2.6 2637.1 395.8 165.3 230.5 3338.6 2.5 2767.3 456.9 172.1 284.8 1 2 3 4 5 6 Tax-exempt securities Corporate 8 foreign bonds 135.6 9.7 148.8 10.8 154.0 10.7 158.3 11.1 162.1 16.2 174.6 21.9 231.7 31.1 203.4 53.3 174.3 78.1 151.6 39.0 133.8 84.1 117.4 88.7 7 8 9 10 11 12 13 14 Total loans Mortgages Consumer credit Bank loans n.e.c. Open market paper Security credit 876.6 245.2 186.4 410.8 14.1 20.2 938.1 262.7 180.2 458.5 15.8 20.9 1023.3 284.2 184.2 512.2 16.5 26.2 1068.0 301.3 190.9 532.3 16.8 26.2 1151.4 330.5 213.7 564.2 14.3 28.7 1308.2 379.5 258.8 622.9 12.6 34.5 1445.3 429.2 296.3 664.6 9.7 45.4 1603.3 502.5 321.1 731.5 8.6 39.6 1706.3 591.4 337.6 731.6 11.2 34.4 1854.7 669.2 370.7 770.8 10.1 33.9 2016.6 763.5 385.1 819.9 9.9 38.2 2100.2 849.3 387.0 815.0 12.7 36.2 9 10 11 12 13 14 15 16 Mutual fund shares Corporate equities 0.1 0.1 0.1 0.1 0.1 0.1 0.1 32.5 18.5 29.3 102.3 39.8 19.8 27.4 120.8 51.1 18.6 25.1 147.5 58.8 19.5 26.1 172.7 65.7 21.0 20.1 187.6 69.4 24.2 19.6 244.5 60.0 25.5 24.7 286.5 54.4 25.7 42.5 319.3 59.8 24.9 36.9 351.3 57.5 27.6 34.0 374.4 55.4 28.7 31.1 477.1 1 Total financial assets Checkable dep. and currency 2 3 Total bank credit 4 U.S. government securities Treasury 5 6 Agency 7 8 17 18 19 20 Cust. liabs. on acceptances Vault cash Reserves at Federal Reserve Miscellaneous assets * 2.2 4.7 1.9 15 2.2 16 45.5 32.6 35.3 455.4 17 18 19 20 1291.1 1411.2 1560.7 1698.5 1854.2 2046.4 2279.3 2516.1 2688.7 2890.1 3149.5 22 23 24 25 Checkable deposits U.S. government Rest of the world Private domestic 338.0 14.5 22.7 300.9 347.8 11.9 22.9 312.9 356.5 10.8 19.0 326.7 375.8 16.9 15.6 343.3 390.8 11.5 17.0 362.3 419.5 15.5 19.3 334.7 473.7 25.8 20.6 427.3 568.2 27.5 23.5 517.3 548.5 21.6 22.1 504.7 565.6 29.0 21.6 515.1 562.3 25.6 21.9 514.8 26 27 28 Small time and savings dep. Large time deposits Fed. funds and security RPs 433.9 225.6 94.3 479.9 272.3 114.8 522.1 324.3 129.6 620.1 329.9 138.3 750.9 233.3 153.6 826.0 321.1 155.2 907.9 332.1 186.4 982.1 333.6 205.6 1010.0 375.0 215.8 1084.0 416.8 236.6 1184.7 445.7 274.5 29 30 31 32 Net interbank claims To monetary authority To domestic barks (3) To foreign banks 9.4 8.2 -8.3 9.5 -22.5 6.3 -11.7 -17.1 -69.7 3.4 -17.3 -55.8 -77.1 3.5 -18.1 -62.5 -75.2 2.5 -27.4 -50.3 -65.9 4.4 -22.9 -47.5 -45.1 4.0 -18.3 -30.9 -36.3 2.8 -24.5 -15.2 5.8 4.6 -28.1 29.3 10.1 3.5 -28.5 35.2 -1.7 1.6 -31.0 27.7 24.0 2.8 -32.0 53.3 29 30 31 32 33 34 35 36 Credit market instruments Corporate bonds Open market paper Fed. Home Loan Bank loans 76.4 21.9 54.5 - 91.4 23.2 68.2 - 113.0 26.1 86.9 - 131.9 32.4 99.6 - 150.3 42.0 108.3 - 173.6 55.5 118.1 185.4 74.4 111.0 - 192.4 90.5 101.9 - 212.9 104.0 108.9 - 215.1 109.1 106.0 219.9 113.7 106.1 - 191.5 108.9 82.2 0.4 33 34 35 36 37 38 Taxes payable Miscellaneous liabilities 1.4 112.1 0.8 126.8 0.5 184.6 0.4 178.7 0.3 200.1 0.3 216.6 0.4 238.6 0.4 270.6 0.4 320.3 0.6 361.4 0.8 463.5 0.6 37 471.2 3a 1181.8 1289.9 1398.2 1482.9 1626.1 1800.1 1989.5 2187.6 2323.0 2479.5 2647.4 2772.5 39 21 Total liabilities 39 Memo: Cred. mkt. funds adv.(4) (2) U.S.-chartered commercial banks, foreign banking offices in U.S., bank holding companies, and banks in U.S.-affiliated areas. IBFs are excluded from domestic banking and treated the same as branches in foreign countries. (3) Floats and discrepancies in interbank deposits and loans. (4) Total bank credit (line 3) less security credit (line 14) less mutual fund shares (line 15) less oorporate equities (line It) plus customer liabilities on acceptances (line 17). BILLIONS OF DOLLARS, END OF PERIOD. 3251.0 21 583.6 30.9 21.3 530.9 22 23 24 25 1307.6 26 423.6 27 248.8 28 DECEMBER 7, 1994 Banking System Banking System L.llO-L.lll Monetary Authority and Commercial Banking 1991 IV 1992 I 1 I _86 LEVELS, 1991-1994 LEVELS, 1991-1994 II III IV I 1 1993 I III II IV I 1 I 1994 II III L.110 Monetary Authority (1) 1 2 3 4 5 6 7 365.9 33.6 21.1 10.0 1.0 0.2 15.9 347.4 37.1 21.1 10.0 0.5 0.1 1.8 355.7 35.5 21.3 10.0 -.2 1.4 - 377.6 35.4 21.3 10.0 -.2 0.6 18.2 381.7 32.5 21.5 8.0 3.3 0.7 8.1 382.6 33.3 21.6 8.0 0.3 0.8 7.3 408.2 33.3 21.7 8.0 0.2 1.5 16.0 408.9 34.2 21.9 8.0 0.9 2.9 8.4 423.8 33.3 22.1 6.0 0.9 0.1 13.2 421.0 34.3 22.3 8.0 0.4 0.5 5.5 436.5 33.4 22.5 8.0 0.9 0.7 10.6 433.7 Total financial assets Gold and foreign exchange 34.2 22.7 Treasury currency 8.0 SDR certificates Federal Reserve float 0.2 F.R. loans to domestic banks 0.5 Security RPs 2.5 8 9 13 i1 12 ' 3 * 272.5 272.5 266.5 6.0 6.6 271.8 271.8 265.8 6.0 5.1 282.6 282.6 276.9 5.7 5.2 285.2 285.2 279.7 5.5 7.0 300.4 300.4 295.0 5.4 7.4 303.6 303.6 298.5 5.1 7.7 318.2 318.2 313.1 5.0 9.2 324.2 324.2 319.4 4.8 8.3 336.7 336.7 332.0 4.6 9.6 341.5 341.5 337.3 4.2 8.6 351.6 351.6 347.6 3.9 8.9 356.8 356.8 353.0 3.8 8.7 15 16 17 363.3 29.4 53,6 344.3 29.5 29.3 351.0 22.7 29.7 374.4 27.7 30.2 378.7 32.1 31.9 379.2 34.5 30.6 405.0 27.7 32.2 405.0 29.9 31.7 420.4 35.0 32.7 416.5 35.7 31.4 431.9 33.4 34.4 429.1 Total liabilities 30.1 Depository inst. reserves Vault cash of comm, banks 31.3 18 19 20 21 293.5 18.3 1.0 274.2 281.8 7.6 0.4 273.9 295.7 14.2 0.2 281.2 313.4 25.1 0.6 287.7 311.1 8.0 0.2 302.8 309.9 7.3 0.3 302.3 341.0 28.8 0.3 311.9 338.0 17.7 0.5 319.8 348.2 15.2 0.4 332.6 344.6 6.6 0.5 337.6 358.1 9.7 0.6 347.7 361.8 7.2 0.4 354.3 22 23 24 6.8 2,7 4.1 3.7 2.7 0.9 2.9 2.8 3.2 3.0 0.2 3.7 3.1 0.6 4.2 3.2 1.0 4.0 3.3 0.7 5.4 3.3 2.0 4.6 3.4 1.2 4.7 3.4 1.3 6.0 3.5 2.5 5.9 3.6 2.3 X Credit market instruments U.S. government securities Treasury Agency Acceptances Bank loans n.e.c. Miscellaneous assets Checkable dep. and currency Due to U.S. government Due to rest of the world Currency outside oanks 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Miscellaneous liabilities 22 Federal Reserve Bank stock 23 24 Other (1) Assets and liabilities of Federal Reserve 3anks and Treasury monetary accounts that supply or absorb bank reserves. Excludes 'the accounts of the Federal Reserve Board. L.lll Commercial Banking (2) 4058.9 Total financial assets 2.0 Checkable dep. and currency 3271.4 Total bank credit 741.8 U.S. government securities 313.1 Treasury 428.7 Agency 1 2 3 4 5 6 3443.4 1.8 2873.0 568.2 232.5 335.7 3492.3 1.7 2910.1 601.8 255.9 345.9 3537.4 1.6 2933.6 624.9 267.0 357.9 3611.5 1.5 2984.0 658.8 287.5 371.3 3657.0 1.3 3013.2 672.9 294.4 378.5 3633.6 1.2 3016.2 708.6 310.2 398.4 3744.9 1.0 3069.2 715.8 307.2 408.6 3804.2 0.9 3107.3 730.9 313.9 417.1 3895.6 1.0 3177.1 745.4 322.2 423.2 3948.3 1.2 3201.3 770.6 344.9 425.7 4013.8 1.5 3232.9 760.1 330.8 429.4 7 8 103.2 96.3 100.7 94.5 98.9 93.1 99.0 96.3 97.5 94.7 95.9 98.5 96.6 97.7 99.2 99.1 99.2 98.2 99.6 97.3 99.3 93.7 98.6 101.0 9 10 11 12 13 14 2097.0 881.3 372.4 785.9 10.6 46.8 2104.2 886.3 361.3 774.4 10.5 71.6 2108.4 890.5 359.1 776.8 10.1 71.9 2121.5 897.2 360.4 774.2 9.1 30.6 2139.8 900.6 365.5 776.6 9.2 88.0 2104.4 898.0 362.7 755.4 8.6 79.6 2150.4 917.6 370.9 765.5 7.1 89.3 2169.3 929.6 383.8 761.0 6.5 88.4 2223.5 947.7 399.5 768.4 7.3 100.7 2224.3 945.4 401.9 775.4 5.7 95.9 2265.7 964.4 417.8 787.5 5.4 90.6 2320.9 989.0 439.3 803.5 5.2 84.0 15 16 3.7 4.5 4.5 4.4 4.0 4.4 4.4 4.1 3.4 4.9 3.7 5.1 3.4 5.3 3.8 5.6 3.9 7.0 3.0 6.5 2.3 6.8 2.0 6.9 17 18 19 20 35.3 33.6 26.5 473.2 31.7 29.3 26.4 493.1 31.4 29.7 20.1 521.0 30.7 30.2 24.9 540.2 31.7 31.9 29.0 550.0 28.9 30.6 31.7 575.2 27.5 32.2 24.5 590.4 26.3 31.7 26.7 610.7 25.3 32.7 31.5 623.1 24.3 31.4 32.5 657.6 23.9 34.4 30.2 690.8 24.7 31.3 27.1 702.4 Tax-exempt securities Corporate & foreign bonds 3362.8 3361.3 3414.8 3436.2 3527.2 3540.3 3601.1 3659.7 3736.6 3801.9 3370.9 621.3 36.4 19.8 565.0 604.8 16.7 19.4 568.7 637.6 36.1 21.2 580.3 657.2 38.2 22.4 596.6 714.3 30.6 22.1 661.7 674.6 18.8 21.1 634.8 718.2 36.5 21.1 660.6 732.5 38.4 24.9 669.2 788.4 42.6 21.2 724.6 764.3 39.8 22.6 701.9 760.5 42.9 23.9 693.7 734.7 30.4 23.2 681.1 26 27 28 1386.5 399.6 229.6 1397.4 387.6 269.1 1390.6 361.9 275.6 1388.0 354.7 272.0 1389.3 332.8 272.0 1390.6 333.0 296.6 1385.2 323.1 298.6 1378.5 311.7 319.2 1377.4 311.7 313.5 1384.4 303.5 340.6 1377.9 301.0 364.5 1376.7 322.9 370.2 29 30 31 32 33.4 1.2 -4.2 36.3 20.6 0.6 -1 .8 21 .3 37.8 1.2 -4.0 40.6 63.0 0.4 -5.0 67.6 68.8 3.9 -9.3 74.2 70.6 1.1 -5.8 75.3 84.4 1.8 -5.7 88.3 103.7 3.8 -7.3 107.7 107.5 1.0 -4.7 111.3 134.4 0.9 -7.7 141.2 156.1 1.6 -7.4 161.9 33 34 35 36 177.3 113.2 62.1 2.0 178.8 116.2 59.7 3.0 178.9 117.9 56.5 4.5 183.3 122.7 55.0 5.6 188.4 127.6 54.4 6.4 193.0 131.4 53.4 8.2 196.8 133.3 52.5 11.0 198.2 134.2 50.0 14.0 202.3 134.9 51.9 16.1 202.7 134.5 51.3 16.3 37 38 0.5 514.7 0.6 502.4 0.6 531.8 0.7 567.2 0.7 560.8 0.8 581.1 0.9 593.9 1 .1 614.9 1.2 634.0 39 2853.3 2361.3 2834.7 2925.6 2948.6 2956.6 2998.8 3036.4 3090.8 9 10 11 12 13 14 Mutual fund shares Corporate equities 15 16 Cust. liabs. on acceptances Vault cash Reserves at Federal Reserve Miscellaneous assets 17 18 19 20 21 Checkable deposits U.S. government Rest of the world Private domestic 22 23 24 25 Small time and savings dep. Fed. funds and security RPs 26 27 28 177.6 0.7 -3.5 180.4 Net interbank claims To monetary authority To domestic banks (3) To foreign banks 29 30 31 32 208.4 135.1 53.0 20.3 216.7 136.4 56.7 23.6 Credit market instruments Corporate bonds Open market paper Fed. Home Loan Bank loans 33 34 35 36 1.4 670.7 1.5 700.9 1.7 730.9 Taxes payable Miscellaneous liabilities 37 38 3120.2 3157.1 Large time deposits 3203.1 Memo: Cred. mkt. funds adv.(4) 39 (2) U.S.-chartered commercial banks, foreign banking offices in U.S., bank holding companies, and banks in U.S.-affiliated areas. IBFs are excluded from domestic banking and treated the same 3S branches in foreign countries. (3) Floats and discrepancies in interbank deposits and loans. (4) Total bank credit (line 3) less security credit (line 14) less mutual fund shares (line 15) less corporate equities (line 16) plus customer liabilities on acceptances (line 17). 3ILLI0NS OF DOLLARS, END OF PERIOD 7 8 Total loans Mortgages Consumer credit Bank loans n.e.c. Open market paper Security credit 3931.4 Total liabilities 21 22 23 24 25 1 2 3 4 5 6 DECEMBER 7, 1994 Commercial Banking Subsectors Commercial Banking Subsectors 87 L.112-L.113 Commercial 3anking Subsectors LEVELS, 1979-1990 LEVELS, 1979-1990 1979 1980 1981 1983 1982 1984 1985 1986 1987 1988 1989 1990 L.112 U.S. -Chartered Commercial Banks 1 Total financial assets Total bank credit 2 3 U.S. government securities 4 Treasury Agency 5 Mortgage pool secur. 6 7 Agency-issued CMOs 8 Other agency secur. 1173.4 1088.2 143.5 92.7 50.8 50.8 1266.1 1171.1 168.5 107.9 60.5 60.5 1365.0 1262.5 179.9 109.7 70.1 70.1 1471.5 1364.0 206.8 129.2 77.6 77.6 1601.8 1497.9 251.0 172.7 78.3 78.3 1798.8 1664.1 252.3 175.2 77.1 26.4 50.7 1990.2 1847.5 256.9 182.6 74.2 24.0 50.3 2166.0 2011.4 299.2 188.5 110.7 49.6 61.1 2257.1 2108.4 324.1 185.4 138.6 71.9 66.7 2384.9 2237.5 343.9 176.0 167.9 86.7 81.2 2545.3 2390.6 377.9 155.7 222.1 123.2 98.9 2644.2 2481.4 432.3 157.4 274.9 144.7 54.8 75.4 1 2 3 4 5 6 7 8 9 10 11 12 13 Tax-exempt securities Corporate 8 foreign bonds Private mtg. pool secs. Privately issued CMOs Other bonds 134.2 5.9 5.9 147.4 6.4 6.4 153.1 6.4 6.4 157.5 8.1 8.1 161.3 11.7 11.7 173.9 15.0 0.4 14.6 231.1 17.2 0.4 16.9 202.8 35.6 3.7 31.9 173.7 56.3 3.8 52.5 150.9 68.6 3.1 65.5 133.2 61.8 3.5 58.3 116.8 65.4 3.2 62.2 9 10 11 12 13 14 IS 16 17 18 19 Total loans Mortgages Consumer credit Bank loans n.e.c. Open market paper Security credit 804.6 242.6 186.4 346.8 10.1 18.8 848.9 258.7 180.2 379.1 11.0 19.9 923.2 278.0 184.2 425.7 10.7 24.6 991.6 294.2 190.9 469.7 11.7 25.1 1073.9 323.5 213.7 497.1 12.6 27.0 1222.9 372.0 258.8 548.7 11.7 31.7 1342.3 421.4 296.3 577.5 8.5 38.5 1473.8 491.7 321.1 620.8 7.5 32.5 1554.4 575.1 337.6 603.3 9.0 29.4 1674.0 644.2 370.7 621.7 8.3 29.0 1810.8 729.7 385.1 655.1 7.8 33.2 1862.3 799.3 387.0 640.2 8.5 27.8 14 15 16 17 18 19 20 21 Mutual fund shares Corporate equities 22 23 24 - 2.2 4.7 1.9 20 2.2 21 26.5 60.5 60.4 21.3 58.7 74.7 17.2 22 66.7 23 78.9 24 2303.7 535.5 21.6 17.2 496.7 2470.4 551.3 29.0 16.7 505.7 26*20.4 547.8 25.6 17.1 505.1 2722.9 569.5 30.9 16.7 521.8 - - - - - - 26.1 47.7 11.3 32.0 46.5 16.5 40.2 42.4 19.9 47.2 44.0 16.3 51.8 40.1 12.0 48.9 42.5 43.2 37.9 48.2 56.6 30.6 65.5 58.4 29.6 59.5 59.6 1165.8 317.5 14.5 17.0 286.0 1257.7 328.2 11.9 16.9 299.4 1381.3 343.0 10.8 13.9 318.3 1528.0 363.9 16.9 11.6 335.4 1674.8 379.4 11.5 12.8 355.1 1837.4 409.7 15.5 15.9 378.2 2026.5 461.4 25.8 16.0 419.7 2200.0 554.6 27.5 18.7 508.4 Cust. liabs. on acceptances Vault cash and res. at F.R. Miscellaneous assets 25 Total liabilities 26 Checkable deposits U.S. government 27 28 Rest of the world 29 Private domestic - - - 25 26 27 28 29 30 Small time 8 savings dep. 428.8 473.6 513.7 611.4 742.2 816.8 897.2 968.7 996.1 1069.2 1165.7 1287.5 30 31 32 Large time deposits Fed. funds 8 sec. RPs, net 204.5 94.3 243.8 114.8 287.7 129.6 289.6 138.8 250.8 150.1 284.7 152.0 295.6 178.8 289.0 189.6 326.7 201.4 361.9 217.7 385.8 253.3 365.4 31 219.7 32 33 34 35 36 37 Net interbank claims Federal Reserve float Borrowing from F.R. banks To domestic banks To foreign banks -17.5 6.8 1 .5 -18.9 -6.8 -57.2 4.5 1.8 -33.1 -30.4 -78.7 1.8 1.6 -46.5 -35.6 -76.9 2.7 0.7 -48.1 -32.2 -68.7 1.6 0.9 -46.6 -24.5 -64.4 0.9 3.6 -43.0 -25.7 -56.6 1.0 3.1 -45.5 -15.2 -64.7 1.3 1.6 -49.7 -17.8 -42.2 0.8 3.8 -47.2 0.3 -38.3 1.3 2.2 -44.5 2.7 -57.9 1.1 0.5 -56.5 -3.0 -51.3 2.6 0.2 -69.0 14.5 33 34 35 36 37 38 39 40 41 Corporata bonds Acceptance liabilities Fed. Home Loan 3ank loans Taxes payable 6.1 27.3 1.4 6.3 33.6 0.8 6.2 42.1 0.5 6.3 51.6 0.4 6.6 54.6 0.3 10.1 51.1 0.3 14.6 40.2 0.4 16.8 31.5 0.4 17.5 30.5 0.4 17.2 27.2 0.6 20.0 22.0 0.8 24.2 17.6 0.4 0.6 38 39 40 41 42 43 44 Miscellaneous liabilities Inv. by bank holding cos. Other 103.4 60.4 43.0 113.7 67.2 46.5 137.3 85.9 51.3 142.4 102.1 40.3 159.3 117.6 41.8 177.0 136.4 40.5 195.0 152.1 42.9 214.1 168.8 45.3 237.9 172.6 65.3 263.5 193.8 69.7 282.9 202.4 80.5 289.9 42 207.8 43 82.1 44 Credit mkt. funds adv. 1095.6 1183.2 1278.1 1386.1 1522.7 1681.4 1846.9 2009.4 2108.6 2235.0 2371.9 2466.7 45 45 Memo: L.113 Foreign Banking Offices in U.S. 1 Total financial assets Total bank credit 2 3 U.S. government securities 4 Treasury 5 Agency 6 Tax-exempt securities 7 Corporate bonds (1) 76.3 69.5 2.4 2.0 0.4 0.2 0.7 98.1 87.4 2.9 2.5 0.4 0.4 0.7 121.5 97.4 3.5 2.9 0.6 0.3 1.0 107.6 72.7 4.3 3.8 0.6 0.3 0.7 108.6 74.6 6.0 5.4 0.6 0.2 1.1 121.6 31.9 5.4 4.8 0.6 0.1 2.8 144.3 102.0 5.9 4.8 1.1 6.3 186.4 135.4 9.5 6.9 2.6 11.3 235.6 160.9 10.3 6.5 3.8 14.4 266.1 189.5 11.5 6.6 4.9 13.7 359.5 213.3 11.7 6.4 5.2 14.7 367.6 250.9 18.6 11.4 7.2 17.7 1 2 3 4 5 6 7 66.0 0.9 59.8 4.0 1.4 0.1 83.3 2.2 75.3 4.8 1.0 0.1 92.5 3.9 81.1 5.8 1.6 0.1 67.3 5.0 56.1 5.1 1.2 0.1 67.3 5.2 58.7 1.7 1.6 0.1 73.6 5.6 64.4 0.9 2.8 89.7 5.7 75.8 1.2 7.0 0.1 114.5 8.7 97.7 1.0 7.1 0.1 136.2 13.9 115.1 2.2 5.0 164.3 22.1 135.6 1.7 4.9 186.9 30.2 149.6 2.1 5.0 214.6 45.5 156.5 4.1 8.4 * 8 9 10 11 12 13 Cust. liabs. on acceptances Reserves at Federal Reserve Miscellaneous assets 6.3 0.6 -.1 7.8 0.7 2.1 10.9 1.3 11.9 11.6 1.7 21.6 13.9 1.0 19.1 20.5 1.3 17.9 22.1 2.0 18.1 23.8 2.6 24.6 30.2 2.2 42.2 31.0 1.1 44.5 34.0 1.0 111.2 17 Total liabilities Checkable deposits 18 19 Small time and savings dep. 20 Large time deposits 21 Fed. funds 8 sec. RPs, net 78.5 14.8 2.3 18.3 101.2 13.7 3.1 25.3 124.8 7.6 4.0 32.1 - 111.2 5.9 4.1 35.8 - 112.5 6.3 3.3 27.1 3.5 125.8 5.2 3.8 31.0 3.2 148.8 7.3 4.9 30.7 7.6 191.3 8.3 7.1 38.3 16.1 240.9 7.6 7.8 42.1 14.4 271.8 8.7 8.3 48.4 18.9 365.7 8.4 12.0 52.9 21.2 22 23 24 Net interbank claims To foreign banks To domestic banks 30.8 18.1 12.6 40.6 17.3 23.3 26.2 -10.0 36.3 20.8 -17.9 38.6 24.6 -10.3 34.9 27.7 -5.7 33.3 39.3 0.9 38.4 55.1 17.9 37.2 70.0 40.8 29.2 74.1 42.6 31.5 78.8 38.9 39.9 25 26 27 28 29 Acceptance liabilities Miscellaneous liabilities Fgn. direct invest, in US Due to affiliates Other 6.8 5.6 2.0 3.6 8.6 9.7 4.6 3.9 1.2 11.9 43.1 6.6 12.6 23.9 13.4 31.1 7.8 17.1 6.2 15.7 32.1 8.7 19.3 4.2 22.9 32.1 10.3 19.6 2.2 24.4 34.5 11.4 22.7 0.4 27.2 39.3 12.4 26.9 N 33.8 65.1 14.4 34.1 16.7 34.4 79.1 16.9 46.9 15.3 35.4 157.1 18.6 49.5 89.0 34.5 154.2 18.4 47.6 88.1 74.3 94.1 106.6 83.1 86.8 99.6 117.1 152.0 186.2 215.6 242.3 270.8 30 8 9 10 11 12 13 14 15 16 Total loans Mortgages Bank loans n.e.c. Open market paper Security credit Corporate equities 30 Memo: Credit mkt. funds adv. (1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies, and American Express Bank. 3ILLIONS OF DOLLARS, END OF PERIOD. M M M M 28.3 14 1.2 15 87.2 16 374.3 8.7 11.0 49.2 29.6 17 18 19 20 21 87.1 22 46.7 23 40.3 24 25 26 27 28 29 DECEMBER 7, 1994 Commercial Banking Subsectors Commercial Banking Subsectors L.112-1.113 Commercial Banking Subsectors 88 LEVELS, 1991-1994 LEVELS, 1991-1994 1991 IV I I 1992 I II IV III I I 1993 I II IV III I 1 I 1994 II III L.112 U.S. -Chartered Commercial Banks 3064.8 Total financial assets Total bank credit 2875.3 U.S. government securities 664.5 Treasury 266.1 398.3 Agency 182.9 Mortgage pool secur. 123.9 Agency-issued CMOs Other agency secur. 91.5 1 2 3 4 5 6 7 8 1 2 3 4 5 6 7 a 2677.3 2528.0 529.0 207.8 321.2 153.7 89.4 78.1 2712.6 2567.5 561.4 230.2 331.2 156.0 97.6 77.6 2709.3 2573.0 577.3 236.0 341.3 154.6 105.6 81.1 2753.0 2608.9 606.1 252.7 353.4 153.2 119.5 80.7 2775.2 2624.9 614.5 254.3 360.1 155.5 122.7 81.9 2792.1 2642.9 645.2 268.2 377.0 163.3 129.5 84.2 2827.5 2685.4 650.5 264.5 385.9 167.0 136.4 82.5 2873.4 2729.2 664.1 270.8 393.3 169.8 137.5 86.1 2932.4 2783.6 671.3 275.0 396.3 173.2 133.8 89.3 2996.5 2805.9 688.9 294.0 394.9 178.1 132.1 84.7 3040.3 2837.4 679.0 280.5 398.4 183.7 127.4 87.4 9 10 11 12 13 102.7 69.7 3.5 28.2 38.0 100.2 68.8 3.4 26.6 38.8 98.3 67.2 3.3 23.9 40.0 98.4 68.3 3.3 23.5 41.6 97.0 66.6 3.8 21.6 41.1 95.4 69.5 5.3 21.6 42.7 96.3 68.2 5.3 20.8 42.1 98.9 67.7 4.6 21.9 41.2 98.9 66.6 4.7 19.8 42.1 99.3 65.4 4.9 20.3 39.6 98.9 64.2 4.6 20.6 39.0 98.1 64.3 4.8 20.2 39.3 14 15 16 17 IS 19 1818.4 821.8 372.4 586.7 7.5 30.0 1828.2 326.8 361.3 576.9 6.3 56.9 1821.8 330.6 359.1 572.1 5.6 54.4 1827.6 837.9 360.4 567.0 5.9 56.3 1838.6 843.0 365.5 566.9 5.9 57.3 1823.9 841.5 362.7 557.2 6.5 55.9 1861.9 862.0 370.9 565.1 5.1 58.9 1889.2 874.9 383.8 565.4 4.9 60.2 1935.9 895.4 399.5 574.8 4.9 61.4 1942.8 894.4 401.9 579.3 3.9 63.2 1986.1 914.3 417.8 592.2 3.5 58.4 2039.5 939.9 439.3 602.3 3.3 54.7 20 21 3.7 4.5 4.5 4.4 4.0 4.4 4.4 4.1 3.4 4.8 3.7 S.l 3.4 5.1 3.8 5.6 3.9 7.0 3.0 6.5 2.3 6.8 2.0 6.9 22 23 24 12.6 59.2 77.5 12.3 54.9 77.9 11.7 49.3 75.7 12.6 53.9 77.6 12.6 60.2 77.5 11.2 61.1 76.9 10.5 55.9 75.7 10.5 57.0 76.7 10.1 63.2 75.4 10.6 63.3 116.8 10.4 63.3 128.7 10.8 57.8 121.0 25 26 27 28 29 2777.7 607.1 36.4 14.5 556.2 2769.3 591.5 16.7 13.8 561.1 2784.3 624.0 36.1 15.6 572.3 2832.7 643.1 38.2 16.7 538.3 2856.8 700.2 30.6 16.3 653.4 2869.4 660.4 18.8 15.5 626.1 2912.9 703.6 36.5 15.0 652.1 2964.8 717.2 * 38.4 18.8 660.0 3021.3 773.9 42.6 15.5 715.8 3100.0 749.3 39.8 17.1 692.5 3151.5 745.9 42.9 18.4 684.6 3191.0 Total liabilities 720.0 Checkable deposits 30.4 U.S. government 17.6 Rest of the world 672.0 Private domestic 30 1367.5 1378.9 1371.2 1369.2 1369.6 1370.8 1364.9 1360.3 1358.7 1366.0 1359.0 1359.0 Small time 8 savings dep. 30 31 32 292.3 192.6 273.3 233.2 251.7 225.3 238.6 236.3 216.1 234.2 212.3 264.2 203.2 263.2 199.7 288.8 196.1 279.6 196.2 306.0 196.0 328.2 203.0 338.3 Large time deposits Fed. funds 8 sec. RPs, net 31 32 33 34 35 36 37 -40.8 1.0 0.2 -47.9 5.9 -64.3 0.5 0.1 -45.7 -19.6 -63.5 -.2 1.4 -42.1 -22.6 -44.5 -.2 0.6 -31.6 -13.3 -54.2 3.3 0.7 -33.6 -24.6 -46.6 0.3 0.8 -30.2 -17.5 -46.2 0.2 1.5 -30.5 -17.5 -34.6 0.9 2.9 -23.9 -14.5 -34.4 0.9 0.1 -21.4 -14.0 -22.5 0.4 0.5 -27.9 4.6 4.4 0.9 0.7 -21.4 24.3 25.6 0.2 0.5 -14.0 38.9 Net interbank claims Federal Reserve float Borrowing from F.R. banks To domestic banks To foreign banks 33 34 35 36 37 38 39 40 41 25.2 12.9 2.0 0.5 25.2 12.5 3.0 0.6 27.7 11.9 4.5 0.6 30.4 12.8 5.6 0.7 33.5 12.8 6.4 0.7 34.2 11.4 8.2 0.8 36.7 10.7 11.0 0.9 36.8 10.6 14.0 1.1 37.1 10.2 16.1 1.2 37.0 10.7 16.3 1.4 37.2 10.4 20.3 1.5 38.4 10.8 23.6 1.7 Coroorate bonds Acceptance liabilities Fed. Home Loan Bank loans Taxes payable 38 39 40 41 42 43 44 318.5 227.2 91.3 316.6 223.0 93.6 331.3 235.8 95.6 340.5 244.0 96.5 337.5 255.0 32.5 353.7 263.2 90.5 364.8 270.9 93.9 370.9 279.1 91.8 382.7 286.6 96.1 437.4 29 0.7 146.7 448.6 293.2 155.5 47 0.5 297.0 173.5 Miscellaneous liabilities Inv. by bank holding cos. Other 42 43 44 45 2502.5 2514.0 2521.9 2556.7 2571.9 2589.4 2628.5 2670.2 2721.5 2743.8 2780.3 Credit mkt. funds adv. 45 L.113 Foreign Banking Offices in U.S. Tax-exempt securities Corporate 8 foreign bonds Private mtg. pool secs. Privately issued CMOs Other bonds 9 10 11 12 13 Total loans Mortgages Consumer credit Bank loans n.e.c. Open market paper Security credit 14 15 16 17 18 19 Mutual fund shares Corporate equities 20 21 Cust. liabs. on acceptances Vault cash and res. at F.R. Miscellaneous assets 2822.4 Memo: 22 23 24 25 26 27 28 29 (1) 1 2 3 4 5 6 7 1 2 3 4 5 6 7 439.1 313.4 32.0 20.8 11.2 21.4 446.6 308.6 30.4 18.7 11.7 20.8 482.3 326.0 37.1 23.6 13.5 20.7 496.9 335.2 39.1 25.3 13.8 22.3 511.5 347.4 43.7 29.6 14.1 22.4 511.9 332.7 48.8 31.8 17.0 23.1 521.9 340.6 49.7 31.7 18.0 22.7 528.5 334.6 50.9 31.9 19.0 23.6 545.9 350.2 57.6 36.1 21.5 23.8 529.1 350.9 64.3 39.2 25.1 23.3 548.6 350.4 64.4 39.6 24.8 26.0 557.4 Tot3l financial assets Total bank credit 351.1 61.4 U.S. government securities Treasury 37.4 Agency 24.0 Tax-exempt securities Corporate bonds 28.0 8 9 10 11 12 13 260.0 54.3 185.8 3.1 16.8 * 257.5 54.2 184.3 4.2 14.7 268.2 54.4 191.8 4.5 17.5 273.8 53.5 192.8 3.2 24.3 281.3 51.6 195.7 3.3 30.7 * 260.7 50.2 184.7 2.1 23.7 268.1 49.0 186.6 2.0 30.4 0.2 26 0.0 47.8 182.5 1.5 28.1 268.8 45.1 182.0 2.4 39.3 * 262.3 43.5 184.7 1.8 32.8 * 260.0 42.5 183.4 1.9 32.2 261.7 41.4 189.1 1.9 29.3 14 15 16 22.7 0.9 102.1 19.5 0.8 117.7 19.7 0.5 136.1 13.1 1.2 142.4 19.1 0.7 144.4 17.6 1.2 160.3 17.0 0.9 163.4 15.8 1.5 176.7 15.1 1.0 179.7 13.7 0.6 164.3 13.5 0.8 183.9 13.9 0.6 191.7 Cust. liabs. on acceptances Reserves at Federal Reserve Miscellaneous assets 14 15 16 17 18 19 20 21 446.4 8.9 11 . 0 99.3 38.4 454.0 8.0 10.4 106.2 36.6 489.8 8.1 11.2 102.0 51.8 504.5 8.4 10.5 107.7 37.1 519.3 8.3 11.2 108.2 39.0 519.8 8.3 11.3 112.3 33.1 530.1 8.5 12.0 111.5 36.1 536.9 9.2 9.9 103.7 30.6 554.4 8.3 10.4 107.4 34.7 537.3 8.8 10.2 99.0 32.3 557.4 8.6 10.6 96.7 37.1 566.4 Total liabilities 8.8 Checkable deposits Small time and savings dep. 9.3 Large time deposits 111.5 Fed. funds 3 sec. RPs, net 32.6 17 18 19 20 21 22 23 24 88.9 41.1 47.8 106.1 56.5 49.6 117.7 74.0 43.7 121.6 89.4 32.2 134.2 103.4 30.8 133.7 103.3 30.4 141.5 111.8 29.7 151.3 130.3 21.0 151.9 133.5 18.5 167.3 145.5 21.8 165.5 151.1 14.3 162.9 151.8 11.0 Net interbank claims To foreign banks To domestic banks 22 23 24 25 26 27 28 29 24.9 175.0 24.3 30.3 120.4 23.1 163.4 24.6 33.4 105.4 22.0 177.1 24.6 33.2 119.3 20.1 199.2 25.2 28.1 145.9 21.2 197.2 26.3 21.5 149.4 19.3 201.8 27.4 26.1 143.3 18.2 202.3 28.6 26.0 147.7 16.5 215.7 29.2 24.5 162.0 16.0 225.6 31.0 23.8 170.8 14.4 205.3 31.7 23.8 149.7 14.2 224.3 32.5 23.8 163.5 14.7 226.7 33.2 30.0 163.5 Acceptance liabilities Miscellaneous liabilities Fgn. direct invest, in US Due to affiliates Otner 25 26 27 28 29 30 319.2 313.3 328.2 328.9 335.8 326.7 327.1 322.3 326.0 331.8 331.7 335.7 Memo: K N M M N M K Total loans Mortgages Bank loans n.e.c. Open market paper Security cradit Corporate equities Credit mkt. funds adv. (1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New Vork Investment companies, and American Express Bank. BILLIONS OF DOLLARS, END OF PERIOD. 8 9 10 11 12 13 30 DECEMBER 7, 1994 Commercial Banking Subsectors, Continued Commercial Banking Subsectors, Continued L.114-L.115 Commercial Banking Subsectors, Continued 89 LEVELS, 1979-1990 LEVELS, 1979-1990 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 L.114 Bank Holding Companies 1 Total financial assets 2 3 4 5 6 7 Credit market instruments U.S. government securities Treasury Agency Corporate bonds Bank loans n.e.c. 8 9 10 11 Miscellaneous assets Inv. in bank subsidiaries Inv. in nonbank subs. Other 12 Total liabilities 94.2 103.1 114.2 134.2 155.7 186.4 219.2 2*5.8 261.6 279.7 303.4 298.4 1 8.0 1.1 0.3 0.8 2.6 4.2 7.6 1.2 0.3 0.9 2.7 3.7 8.0 1.2 0.3 0.8 2.7 4.1 5.8 0.8 0.2 0.6 1.9 3.1 7.2 1.3 0.4 1.0 3.1 2.7 8.1 1.6 0.4 1.2 3.7 2.8 11.8 2.9 0.8 2.1 6.8 2.1 11.5 2.4 0.6 1.7 5.5 3.6 13.5 2.8 0.7 2.1 6.5 4.1 13.4 2.9 0.8 2.1 6.7 3.9 16.2 3.2 0.9 2.4 7.5 5.5 13.4 2.6 0.7 1.9 5.6 5.3 2 3 4 5 6 7 86.2 60.4 24.1 1.8 95.5 67.2 26.9 1.4 106.3 85.9 18.4 1.9 128.5 102.1 24.0 2.4 148.5 117.6 28.1 2.9 178.2 136.4 37.5 4.3 207.3 152.1 51.1 4.2 234.3 168.8 59.5 6.0 248.2 172.6 68.3 7.3 266.3 193.8 65.9 6.6 287.2 202.4 76.0 8.8 285.0 8 207.8 9 55.2 10 22.0 11 35.7 38.3 37.2 42.1 46.3 63.5 81.9 104.0 124.7 127.0 140.4 126.4 12 M 13 Pad funds & sec. RPs, net 14 15 16 Net interbank claims To domestic banks To foreign banks -3.9 -2.0 -1.9 -6.0 -1.9 -4.0 -17.2 -7.1 -10.2 -20.9 -8.6 -12.3 -31.1 -15.7 -15.5 -29.2 -13.2 -16.1 -27.8 -11.2 -16.6 -27.2 -11.9 -15.3 -22.0 -10.2 -11.8 -25.6 -15.5 -10.1 -22.6 -14.3 -8.3 -11.2 14 -3.4 15 -7.9 16 17 18 19 Credit market instruments Corporate bonds Commercial paper 36.1 15.8 20.4 42.8 16.9 25.9 52.8 19.9 33.0 60.1 25.6 34.6 73.5 35.5 38.0 89.5 45.4 44.1 106.2 59.8 46.4 116.8 73.7 43.1 131.1 86.5 44.6 136.2 91.8 44.4 142.5 93.7 48.8 114.8 17 84.7 18 30.1 19 20 Miscellaneous liabilities 3.4 1.5 1.5 2.9 4.0 3.2 3.5 14.4 15.6 16.3 20.6 23.3 20 - - - - - - - - - - -.4 13 L. 115 Banks in U.S. -Affiliated Areas 1 Total financial assets 2 Checkable dep. and currency 3 4 5 6 7 8 9 10 11 12 Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate bonds Home mortgages Commercial mortgages Bank loans n.e.c. Miscellaneous assets 13 Total liabilities 14 Checkable deposits 15 Small time and savings dep. 16 Large time deposits 17 Miscellaneous liabilities BILLIONS OF DOLLARS, END OF PERIOD. 11.3 2.4 14.4 2.8 17.9 2.9 17.6 3.4 21.1 3.6 20.3 4.1 22.6 4.5 21.4 4.4 20.1 3.6 21.7 3.0 23.8 2.6 28.3 2.5 1 2 4.0 0.7 0.7 1.1 0.5 1.1 0.6 4.8 5.0 0.8 0.8 1.0 1.0 1.2 0.6 0.4 6.6 5.5 0.8 0.8 0.6 0.6 1.2 1.1 1.2 9.5 7.9 0.9 0.9 0.6 0.4 1.0 1.1 3.9 6.3 9.5 1.1 1.1 0.6 0.3 1.1 0.7 5.7 8.0 11.0 1.1 1.1 0.6 0.4 1.2 0.7 7.0 5.2 13.7 1.2 1.2 0.6 0.7 1.3 0.8 9.1 4.4 14.6 1.7 1.7 0.6 0.9 1.3 0.8 9.3 2.4 14.7 1.7 1.7 0.6 0.9 1.5 0.9 9.1 1.8 15.5 2.3 1.9 0.4 0.7 * 1.7 1.2 9.6 3.2 17.1 3.0 2.2 0.3 0.6 0.1 1.9 1.8 9.7 4.1 21.6 3.4 2.5 0.9 0.6 2.0 2.5 13.0 4.2 3 4 5 6 7 8 9 10 11 12 11.1 5.7 2.8 2.8 -.3 14.1 5.8 3.2 3.2 1.9 17.5 5.9 4.4 4.4 2.7 17.2 6.0 4.5 4.5 2.2 20.6 5.1 5.4 5.4 4.7 19.8 4.6 5.4 5.4 4.3 22.1 4.9 5.8 5.8 5.6 20.7 5.4 6.3 6.3 2.9 19.5 5.4 6.2 6.2 1.8 21.0 5.6 6.4 6.4 2.4 22.9 6.1 7.0 7.0 2.9 27.4 5.4 9.1 9.1 3.9 13 14 15 16 17 M DECEMBER 7, 1994 Commercial Banking Subsectors, Continued Commercial Banking Subsectors, Continued L.114-L.115 Commercial Banking Subsectors, Continued LEVELS, 90 LEVELS, 1991-1994 1991-1994 1991 I IV I 1992 I II III IV I I 1993 I II III IV I I I 1994 II III L.114 Bank Holding Companies 1 301.9 307.4 318.9 334.6 342.6 351.4 366.9 373.2 388.0 392.7 394.4 2 3 4 5 6 7 11.9 3.4 1.0 2.4 5.1 3.4 13.6 5.7 3.9 1.8 4.7 3.1 13.1 5.5 3.9 1.6 4.9 2,8 17.5 7.8 5.5 2.3 5,4 4.2 17.5 8.3 6.1 2.2 5.4 3.7 16.4 7.7 5,5 2.2 5.4 3.3 18.4 8.3 5.9 2.4 6.2 3.9 18.7 8.1 5.6 2.5 7.2 3.4 17.5 3.4 5.3 3.1 7.2 1.9 18.2 9.2 5.6 3.4 7.3 1.7 18.3 8.6 4.8 3.7 7.5 2.2 17.7 7.9 4.0 3.9 7.6 2.2 8 9 10 11 299.0 227.2 40.6 22.2 293.8 223.0 36.2 34.6 305.8 235.8 38.7 31.2 317.1 244.0 42.4 30.7 325.1 255.0 43.0 27.0 335.0 263.2 38.1 33.7 348.5 270.9 47.2 30.4 354.6 279.1 45.3 30.1 370.5 236.6 56.3 27.5 374.5 290.7 54.1 29.6 376.1 293.2 48,0 34.9 387.8 297.0 49.9 40.9 12 114.4 112.6 114.5 122.7 124.2 123.6 130.3 129.8 132.2 134.8 132.1 143.5 Total liabilities -.7 -.7 -.2 -.8 -.3 -.7 -.7 405.5 Total financial assets 1 Credit market instruments U.S. government securities Treasury Agency Corporate bonds Bank loans n.e.c. 2 3 4 5 6 7 Miscellaneous assets Inv. in bank subsidiaries Inv. in nonbank subs. Other 8 9 10 11 12 Fed funcls 8 sec. RPs, net 13 13 -1.4 -.6 -1.5 -1.3 -1.2 14 15 16 -14.7 -4.1 -10.7 -20.7 -5.7 -15.0 -16.3 -5.6 -10.7 -14.1 -5.6 -8.5 -11.2 -6.5 -4.7 -16.5 -6.1 -10.5 -10.9 -4.9 -6.0 -13.0 -4.9 -8.0 -10.0 -1.8 -8.2 -10.4 -1.6 -8.8 -13.8 -.3 -13.5 -10.9 -.5 -10.3 Net Interbank claims To domestic banks To foreign banks 14 15 16 17 IS 19 112.3 88.0 24.3 115.0 91.0 24.0 112.7 90.2 22.5 114.4 92.3 22.1 114.6 94.1 20.4 119.9 97.1 22.7 120.2 96.6 23.6 120.3 97.4 22.9 123.4 97.7 25.6 124.2 97.5 26.7 126.3 97.8 28.5 129.2 98.0 31.2 Credit market instruments Corporate bonds Commercial paper 17 18 19 20 18.2 18.9 19.7 23.7 22.0 21.0 21.7 22.6 19.6 21.3 20.2 25.8 Miscellaneous liabilities 20 L..115 Banks in U.S.-Affiliated Areas 1 2 25.1 1.8 25.7 1.7 26.4 1.6 27.1 1.5 27,7, 1.3 28.2 1.2 28.6 1.0 28.9 0.9 29.4 1.0 29.9 1.2 30.5 1.5 31.2 Total financial assets 2.0 Checkable dep. and currency 3 4 5 6 7 8 9 10 11 12 19.7 3.8 2.3 1.0 0.5 0.1 2.0 3.2 10.0 3.7 20.4 4.3 3.1 1.2 O.S 0.2 2.2 3.2 10.1 3.6 21.5 5.0 3.5 1.5 0.5 0.3 2.4 3.1 10.2 3.4 22.5 5.8 3.9 1.9 0.5 0.3 2.7 3.0 10.2 3.1 23.4 6.4 4.3 2.1 0.5 0.4 3.0 3.0 10.2 3.0 24.2 6.9 4.7 2.2 0.4 0.5 3.3 2.9 10.1 2.8 24.8 7.4 5.1 2.2 0.3 0.5 3.7 2.9 9.9 2.8 25.3 7.8 5.5 2.3 0.3 0.5 4.0 3.0 9.8 2.7 25.8 8.1 5.8 2.3 0.2 0.6 4.1 3.1 9.7 2.6 26.4 8.2 5.9 2.3 0.3 0.8 4.2 3.3 9.7 2.4 26.8 8.2 5.8 2.4 0.4 0.9 4.1 3.5 9.7 2.2 27.3 8.1 5.6 2.5 O.S 1.1 3.9 3.8 9.9 1.9 13 14 15 16 17 24.3 5.2 8.1 8.1 2.9 24.9 5.3 8.1 8.1 3.5 25.6 5.5 8.2 8.2 3.7 26.3 5.7 3.4 8.4 3.8 26.9 5.8 8.5 8.5 4.2 27.4 5.9 8.4 8.4 4.6 27.8 6.0 8.4 8.4 5.1 28.2 6.1 8.3 8.3 5.6 28.7 6.1 8.2 8.2 6.1 29.3 6.1 8.2 8.2 6.7 29.9 6.1 8.3 8.3 7.3 30.6 Total liabilities 6.0 Checkable deposits 8.4 Small time and savings dep. 8.4 Large time deposits 7.9 Miscellaneous liabilities BILLIONS OF DOLLARS, END OF PERIOD i 2 Credit market Instruments 3 U.S. government securities 4 Treasury 5 6 Agency Tax-exempt securities 7 Corporate bonds 8 Home mortgages 9 Commercial mortgages 10 Bank loans n.e.c. 11 12 Miscellaneous assets 13 14 15 16 17 DECEMBER 7, 1994 Nonbank Finance Summary Nonbank Finance Summary L.116-1.117 Private Nonbank Financial Institutions 91 LEVtLS, 1979-1990 LEVELS, 1979-1990 1979 1980 1981 1983 1982 1984 1985 1986 1987 1988 1989 1990 L.116 Private Nonbank Financial Institutions (1) I Total financial assets 2 Checkable dep. and currency 3 Time and savings deposits 4 Money market fund shares Fed. funds and security RPs 5 6 Foreign deposits 7 8 2520.2 27.2 58.8 3.9 14.4 5.1 2881.4 29.8 77.1 7.2 18.7 6.8 3185.0 31.9 104.3 19.7 33.8 18.8 3592.8 37.0 131.7 20.3 44.3 23.8 4092.6 36.8 133.3 18.9 53.6 21.9 4640.7 38.3 137.2 24.9 71.6 21.2 5485.9 47.7 163.0 34.3 80.1 19,0 6480.9 57.8 194.8 43.4 86.6 22.2 7054.7 56.0 216.8 43.9 92.1 21.6 7734.4 60.8 241.8 53.2 99.2 29.7 8726.8 63.6 284.9 66.0 119.4 26.4 8965.8 78.4 251.2 97.5 126.2 27.1 1 2 3 4 5 6 11.3 436.8 14.7 536.1 11.6 518.2 16.5 630.1 20.0 795.6 23.8 803.4 37.0 1024.0 79.5 1195.8 94.8 1220.3 97.5 1384.3 119.9 1725.3 140.2 1589.5 7 8 1755.3 183.6 76.7 106.9 121.1 389.1 737.3 135.1 189.0 1941.8 231.9 100.4 131.4 129.8 429.6 784.0 145.6 221.0 2170.3 310.0 144.6 165.4 140.4 453.8 812.6 157.8 295.7 2363.2 448.6 219.1 229.5 160.0 491.6 791.7 167.0 304.2 2623.0 549.3 252.2 297.1 174.7 523.2 860.0 188.6 327.1 3080.7 689.4 338.1 351.2 192.4 596.3 968.9 222.1 411.7 3532.5 835.0 416.7 418.4 242.9 695.0 1058.2 262.7 438.6 4171.7 1093.5 534.4 559.1 325.5 825.5 1131.2 291.0 505.0 4606.4 1244.2 567.6 676.7 347.1 944.6 1205.7 300.3 564.4 5025.1 1266.2 537.9 723.3 372.9 1105.9 1323.0 310.4 646.6 5500.0 1403.1 660.6 742.5 403.2 1224.7 1382.1 347.5 739.4 5769.7 1546.0 735.4 810.6 449.4 1295.3 1329.1 358.3 791.6 9 10 11 12 13 14 15 16 17 17.5 13.6 176.3 24.7 15.6 208.8 0.1 23.0 18.1 235.1 0.4 25.8 20.2 279.5 1.4 34.2 22.9 331.3 2.2 31.8 26.5 379.1 3.9 50.7 29.6 463.9 5.6 57.4 35.4 530.3 4.9 41.8 40.7 615.3 5.3 43.5 49.3 644.3 4.5 42.5 53.3 721.2 3.4 38.8 56.4 787.6 18 19 20 21 2387.6 673.5 45.2 -1.6 922.0 51.8 2735.3 727.0 76.4 1.4 1080.3 61.8 3045.4 752.9 186.2 15.0 1169.1 59.8 3443.9 813.8 219.3 37.9 1386.4 76.9 3921.1 946.3 179.4 35.0 1618.7 112.1 4469.7 1079.5 233.6 68.9 1775.9 136.7 5279.9 1159.4 243.8 64.2 2130.0 240.2 6233.5 1233.0 292.1 93.1 2505.3 413.5 6766.7 1237.4 316.1 76.9 2717.3 460.1 7381.8 1371.6 333.0 82.1 2967.1 478.3 8335.0 1357.8 428.1 122.0 3514.8 566.2 8574.1 1251.2 498.4 123.5 3601.8 602.1 22 23 24 25 26 27 Mutual fund shares Corporate equities 9 10 11 12 13 14 15 16 17 Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate & foreign bonds Mortgages Consumer credit Other loans 18 19 20 21 Reserves at Federal Reserve Security credit Trade credit Miscellaneous assets 22 Total liabilities 23 Thrift deposits 24 Money market fund shares Security RPs 25 Insurance & pension reserves 26 27 Mutual fund shares X 28 29 30 31 32 33 Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. Open market paper Fed. Home Loan Bank loans 197.6 64.6 2.0 28.0 61.4 41.8 210.9 70.6 1.9 25.7 60.7 49.0 245.4 72.8 1.9 30.8 74.6 65.2 257.3 81.3 2.0 33.3 74.6 66.0 273.3 89.3 2.1 35.8 87.2 59.0 344.4 121.1 2.5 44.8 101.4 74.6 436.1 158.7 2.5 44.6 141.4 38.8 586.3 234.9 2.3 56.9 132.7 108.6 698.8 300.0 3.1 48.6 214.0 133.1 826.3 347.1 3.4 51.4 271.7 152.8 925.7 412.4 3.7 64.9 303.0 141.8 989.6 463.4 4.3 69.6 335.5 116.7 28 29 30 31 32 33 34 35 36 37 38 Security credit Trade debt Taxes payable Inv. in bank pers. trusts Miscellaneous liabilities 30.5 1.3 3.6 215.2 248.3 37.2 1.7 3.2 244.8 290.6 40.9 2.1 2.2 248.1 323.6 44.1 2.6 2.5 264.2 338.6 49.2 5.1 2.3 293.2 406.5 56.0 5.5 2.1 306.1 461.0 80.5 8.0 2.5 358.3 556.9 83.6 7.6 2.6 404.4 620.2 73.5 6.8 2.4 414.2 713.3 74.8 8.5 2.9 £43.7 788.7 91.4 8.0 3.6 515.1 802.4 98.6 6.1 3.4 522.1 877.4 34 35 36 37 33 (1) Thrift institutions, insurance companies and pension funds, and other financial institutions. L.117 Funding Corporations (2) 1 Total financial assets 2 Money market fund shares Open market paper 3 Miscellaneous assets (3) 4 Invest, in fgn. bkg. off. 5 Invest, in broxersSdealers 6 7 Total liabilities Credit market instruments 3 9 Corporate bonds 10 Open market paoer Miscellaneous liabilities 11 Fgn. direct invest, in US 12 Securities loaned (net) 13 1.1 0.6 0.6 - 13.7 0.6 0.6 12.5 3.9 8.6 18.9 1.0 1.0 16.8 12.6 4.2 25.0 1.1 1.1 22.8 17.1 5.7 31.1 2.6 2.6 25.9 19.3 6.7 32.5 2.7 2.7 27.1 19.6 7.5 45.6 3.4 3.4 38.7 22.7 16.0 58.2 6.0 6.0 46.2 26.9 19.4 71.0 7.6 7.6 55.3 34.1 21.7 98.5 11.6 11.6 75.4 46.9 28.5 117.1 19.6 19.6 77.8 49.5 28.3 152.8 35.7 35.7 81.4 47.6 33.8 1 2 3 4 5 6 1.1 1 .1 1.1 13.7 12.5 12.5 I.1 1.1 18.9 16.8 16.8 2.1 2.1 25.0 22.8 22.3 2.3 2.3 31.1 25.9 0.3 25.7 5.2 5.2 32.5 27.1 1.0 26.1 5.4 5.4 45.6 38.7 3.1 35.6 6.9 6.9 53.2 58.7 4.6 54.1 -.4 -12.4 12.0 71.0 79.7 7.2 72.5 -8.8 -23.9 15.1 98.5 117.8 6.2 111.6 -19.2 -42.4 23.2 117.1 130.3 4.9 125.4 -13.2 -52.4 39.3 152.8 145.7 7.7 137.9 7.2 -64.2 71.4 7 8 9 10 11 12 13 (2) Funding subsidiaries, nonbank financial holding companies, 3nd custodial accounts for reinvested collateral of securities lending operations. (3) Due from affilated companies. BILLIONS OF DOLLARS, END OF PERIOD. DECEMBER 7, 1994 Nonbank Finance Summary Nonbank Finance Summary L.116-L.117 Private Nonbank Financial Institutions 92 LEVELS, 1991-1994 LEVELS, 1991-1994 1991 IV 1 1 1992 I II III IV I 11 1993 II I III IV I 1 I 1994 II III L.116 Private Nonbank Financial Institutions (1) 1 10071.0 10189.6 10296.3 10582.3 10843.4 11147.4 11364.1 11736.3 12013.6 12060.7 12046.2 12371.4 Total financial assets 89.0 Checkable dep. and currency 88.9 80.7 98.0 73.4 78.9 79.2 90.0 73.1 70.7 76.6 2 73.0 Time and savings deposits 280.1 286.1 293.3 312.6 331.4 ,315.9 316.8 316.1 313.1 321.1 317.3 3 316.1 208.7 Money market fund shares 159.0 190.2 202.3 170.1 183.4 132.8 154.8 155.9 136.8 4 124.8 150.7 Fed. funds and security RPs 125.8 130.7 123.5 125.0 129.5 139.4 133.4 119.3 130.3 127.6 139.3 5 123.4 8.3 Foreign deposits 10.1 9.0 16.7 19.1 12.9 11.5 21.6 20.3 21.4 18.8 20.5 6 1 2 3 4 5 6 7 8 7 8 207.3 2118.6 223.0 2115.1 237.0 2142.3 258.5 2189.9 289.2 2347.9 322,7 2462.8 358.8 2509.2 402.1 2639.6 437.2 2745.1 438.3 2726.0 433.6 2685.0 462.2 2889.7 Mutual fund shares Corporate equities 9 10 11 12 13 14 IS 16 17 6114.2 1755.9 904.7 851.2 494.5 1421.7 1310.3 362.0 769.7 6184.4 1758.9 889.7 369.3 513.9 1453.4 1303.4 358.0 796.8 6270.9 1804.6 914.5 890.1 528.3 1502.5 1283.4 357.6 794,5 6408.2 1864.9 959.9 905,0 544,2 1541.4 1293.3 363.5 800.9 6449.8 1885.4 982.6 902.9 566.1 1570.3 1277.4 372.1 778.5 6567.4 1930.6 1005.3 925.4 590.4 1625.6 1263,2 361.7 790.9 6720.2 1982.6 1023.1 959.5 612.3 1671.2 1285.7 363.4 804.9 6866.9 2039.9 1014.5 1025.4 634.9 1738.9 1294.7 371.6 786.9 6955.5 2049.5 1031.6 1017.8 656.9 1763.6 1283.9 386.6 815.1 6971.4 2008.5 979.6 1028.9 675.6 1791.8 1267.2 386.9 841.3 7000.8 1989.0 963.1 1025.8 674.3 1791.5 1260.4 400.5 885.0 7045.7 1991.5 950.0 1041.5 677.4 1800.7 1266.1 414.6 895.4 Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate 8 foreign bonds Mortgages Consumer credit Other loans 9 10 11 12 13 14 15 16 17 18 19 20 21 2.9 55.1 60.4 852.9 3.1 51.2 61.1 865.6 2.6 56.3 60.9 851.7 2.8 55.8 61.4 919.6 3.1 53.3 62.9 941.7 2.8 59.1 63.3 950.9 3.2 58.7 64.0 946.3 3.2 66.6 63.8 982.5 3.4 75.9 65.8 1011.8 3.2 76.5 66.4 1056.4 3.2 75.7 66.1 1075.8 2.9 72.2 67.6 1115.5 Reserves at Federal Reserve Security credit Trade credit Miscellaneous assets 18 19 20 21 22 23 24 25 26 27 9619.6 1158.8 539.6 126.3 4256.1 813.9 9740.2 1144.7 572. 0 99.3 4271.6 860.4 9833.3 10126.3 10386.2 10662.3 10860.7 11219.6 11481.3 11518.6 11510.5 11826.8 Total liabilities 1025.4 1010.6 Thrift deposits 1122.4 1067.4 1056.5 1047.3 1103.3 1095.7 1040.9 1040.0 576.4 Money market fund shares 582.4 586.1 556.9 552.9 543.6 547.9 559.4 556.6 549.8 163.7 Security RPs 131.8 145.8 148.0 151.8 153.3 144.2 119.8 120.2 149.6 Insurance 8 pension reserves 4471.9 5027.0 5011.9 5136.1 4334.6 4634.5 4785.4 4844.7 4997.7 5071.1 1439.0 1443.1 1563.7 Mutual fund shares 924.4 965.6 1134.6 1225.3 1342.4 1429.3 1042.1 28 29 30 31 32 33 1010.6 526.9 4.8 78.4 323.6 77.0 1037.3 543.6 5.0 81.8 333.5 73.3 1054.4 562.6 5.0 80.3 334.0 72.4 1082.8 578.9 5.1 84.6 339.6 74.5 1096.4 597.1 5.4 80.5 339.9 73.5 1098.3 619.6 5.7 70.3 325.9 76.7 1125.4 641.5 6.0 73.3 323.5 81.1 1161.3 676.3 7.6 69.2 323.2 84.9 1213.3 709.2 8.9 66.5 341.6 37.1 1255.2 744.8 9.0 60.3 357.0 84.1 1263.1 759.9 9.1 48.9 356.9 88.2 1234.5 774.7 9.2 44.5 363.4 92.6 Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. Open market paper Fed. Home Loan 3ank loans 28 29 30 31 32 33 34 35 36 37 38 133.8 6.8 4.9 608.3 960.4 143.4 6.0 5.2 610.7 989.7 137.0 6.4 5.1 601.3 976.0 158.6 6.6 5.2 607.9 1023.6 164.1 7.4 5.2 629.6 1047.5 165.9 8.1 5.7 639.0 1052.3 175.9 9.9 5.9 637.6 1077.4 187.9 10.4 6.6 651.2 1113.6 203.3 10.1 6.7 660.9 1142.1 206.3 12.3 6.9 655.3 1162.5 202.4 10.0 6.2 640.2 1186.2 191.0 10.3 6.0 656.8 1218.0 Security credit Trade debt Taxes oayable Inv. in bank pers. trusts Miscellaneous liabilities 34 35 36 37 38 22 23 24 25 26 27 (1) Thrift institutions, insurance companies and jpension funds, and other financial institutions. L.117 Funding Corporations (2) 1 2 3 4 5 6 177.7 51.5 51.5 74.3 30.3 44.5 201.1 59.0 59.0 83.1 33.4 49.6 195.3 54.7 54.7 35.9 33.2 52.8 231.4 72.1 72.1 87.1 28.1 59.1 235.1 75.0 75.0 85.1 21.5 63.7 244.1 74.0 74.0 96.0 26.1 69.9 250.6 74.3 74.3 102.0 26.0 76.0 268.6 82.4 82.4 103.8 24.5 79.3 290.8 93.1 93.1 104.6 23.3 80.8 314.4 97.5 97.5 119.4 23.8 95.6 332.2 106.3 106.3 119.6 23.8 95.8 352.7 Total financial assets Money market fund shares 111.0 111.0 Open market paper Miscellaneous assets (3) 130.7 30.0 Invest, in fgn. bkg. off. Invest, in brokers&dealers 100.7 7 8 9 10 11 12 13 177.7 139.1 14.7 124.5 38.6 -64.3 102.9 201.1 156.3 18.3 137.6 45.1 -72.9 118.0 195.3 164.5 19.6 144.9 30.8 -73.6 109.3 231.4 166.2 23.2 143. 0 65.2 -79.1 144.3 235.1 161.6 26.4 135.2 73.5 -76.4 150.0 244.1 162.2 34.5 127.6 81.9 -66.2 148.1 250.6 166.5 36.8 129.7 84.2 -64.5 148.6 268.6 166.3 39.9 126.4 102.3 -62.6 164.3 290.8 169.9 40.0 129.9 120.9 -65.2 186.1 314.4 190.4 52.4 137.9 124.0 -71.0 195.0 332.2 191.1 56.8 134.3 141.1 -71.5 212.6 352.7 Total liabilities Credit market instruments 200.3 63.3 Corporate bonds Open market paper 136.9 Miscellaneous liabilities 152.5 Fgn. direct invest. In US -69.5 222.0 Securities loaned (net) (2) Funding subsidiaries, nonbank financial holding companies, and custodial accounts for reinvested collateral of securities lending operations. (3) Due from affilated companies. BILLIONS OF DOLLARS, END OF PERIOD 1 2 3 4 5 6 7 8 9 10 II 12 13 DECEMBER 7, 1994 Thrift Institutions Thrift Institutions L.118-L.120 Thrift Institutions 93 LEVELS, 1979-1990 LEVELS, 1979-1990 1979 1930 1981 1982 1983 1984 1985 1986 1987 1938 1989 1990 L.118 Thrift Institutions (1) 1 Total financial assets Checkable dep, and currency 2 3 Time deposits 4 Fed. funds and security RPs Mutual fund shares 5 6 Corporate equities 7 3 9 10 II 12 13 14 Credit market instruments U.S. government securities Tax-exempt securities Corporate & foreign bonds Mortgages Consumer credit Other loans (to business) Open market paper 15 16 Reserves at Federal Reserve Miscellaneous assets 17 Total liabilities Deposits 18 19 Security RPs Credit mkt. instruments 20 Taxes payable 21 22 Miscellaneous liabilities 795.4 6.4 9.6 12.0 4.7 S6 0.0 8.0 14.6 13.1 4.2 899.7 10.4 13.9 19.2 3.2 951.3 13.4 28.5 24.0 3.3 1108.0 14.6 31.3 26.8 4.3 1290.8 13.8 24.6 30.9 4.1 1409.7 15.3 31.3 30.5 5.2 1539.2 16.5 42.9 30.7 7.0 1683.2 14.2 34.8 28.2 1.8 7.0 1832.8 16.3 31.3 29.6 1.4 8.5 1714.3 16.1 26.6 36.6 1.2 11.0 1574.6 15.8 26.9 36.2 1.4 8.8 1 2 3 4 5 6 722.2 59.9 4.1 21.4 569.0 63,1 2.2 2.6 775.7 72.6 3.6 27.3 598.9 66,7 2.7 3.8 803.7 30.6 3.6 24.0 616.6 69.9 3.9 5.1 814.0 113.2 3.3 30.7 580.6 73.3 5.6 6.9 948.9 167.8 3.1 42.4 633.9 85.0 11.7 5.2 1103.7 193.0 2.8 53.7 719.4 110.4 20.7 3.8 1196.1 194.4 3.4 56.8 778.0 130.3 29.3 3.7 1304.9 247.8 3.1 64.1 804.1 140.0 39.8 6.0 1441.6 304.2 3.1 88.2 854.2 146.4 40.9 4.7 1558.1 313.7 2.8 105.3 926.1 155,1 49,2 6.0 1472.0 254.1 2.6 91,0 917.4 154,2 47.0 5.8 1320.5 234.5 3.0 75.6 828.7 141.2 34.3 3.0 7 8 9 10 11 12 13 14 40.4 3 44.4 0.1 49.1 0.4 67.8 1.4 80.7 2.2 111.5 3,9 126.9 5.6 131,6 4.9 150.7 5.3 182,3 4.5 146.2 764.6 673.5 8.1 47.9 0.8 34.4 830.6 727.0 10.1 55.4 0.8 37.3 878.3 752.9 15.3 71.4 0.9 37.8 933.6 813.8 13.5 72.5 0.9 32.9 1091.9 946.3 26.6 66.1 1.0 51.9 1277.4 1079.5 43.4 89.5 1.0 64.1 1393.8 1159.4 40.4 110.2 1.1 82.7 1517.2 1230.0 57.5 134.3 1.1 94.2 1642.6 1287.4 85.7 162.6 1.2 105.8 1787.5 1371.6 103.9 184.3 1.2 126.4 1675.1 1357.8 57.8 169.2 1.1 89.3 1546.2 1251.2 42.5 139.1 0,9 112.5 17 18 19 20 21 22 3.4 15 161.7 16 Cl) Savings and loan associations, mutual savings banks, federal savings banks, and credit unions. L.119 Savings Institutions (2) 1 Total financial assets Checkable dep. 8 currency 2 Time deposits 3 4 Fed. funds 8 security RPs Corporate equities 5 10 11 12 13 14 15 Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate and fgn. bonds Mortgages Consumer credit Other loans (to business) Open market paper 16 17 Reserves at Federal Reserve Miscellaneous assets 6 7 8 9 733.5 5.2 5.0 12.0 4.7 792.4 6.3 7.5 12.3 4.2 328.8 3.8 6.8 16.8 3.2 870.3 11.6 14.0 20.8 3.3 1011.7 12.4 15.1 22.6 4.3 1180.1 11.2 9.6 26.3 4.1 1275.3 12.0 11.9 22.1 5.2 1376.5 12.5 15.9 19.9 7.0 1505.1 10.2 7.3 19.0 7.0 1640.5 12.1 7.4 20.2 8.5 1512.6 11.3 5.3 24.2 11.0 1357.7 11.0 5.2 21.6 8.8 1 2 3 4 5 668.4 56.6 11,7 44.9 4.1 21.4 565.0 16.6 2.2 2.6 722.7 63.4 13.2 55.2 3.6 27.3 594.3 22.7 2.7 3.8 748.7 76.0 13.3 62.7 3.6 24.0 612.2 24.0 3.9 5.1 756.7 107.4 16.6 90.8 3.3 30.7 576.3 26.6 5.6 6.9 879.5 158.3 31.9 126.9 3.1 42.4 626.9 31.5 11.7 5.2 1018.6 133.4 39.7 143.7 2.3 53.7 710.1 44.2 20.7 3.8 1097.6 131.3 34.5 146.3 3.4 56.8 765.7 57.6 29.3 3.5 1191.0 231.1 38.0 193.1 3.1 64.1 784.8 62.9 39.8 5.3 1310.3 234.2 47.5 236.7 3.1 88.2 324.3 65.3 40.9 4.3 1409.2 292.1 34.9 257.2 2.8 105.3 888.0 66.7 49.2 5.1 1316.0 235.7 26.3 208.9 2.6 91.0 872.5 62.5 47.0 4.7 1153.9 211.5 25.9 135.7 3.0 75.6 779.0 49.6 34.3 0.7 6 7 3 9 10 11 12 13 14 15 38.1 38.7 0.1 44.4 0.4 63.5 1.4 76.4 2.2 108.0 3.9 122.5 5.6 124.6 4.9 146.3 5.3 177.8 4.5 140.3 705.6 616.0 3.9 580.6 31.6 8.1 765.3 665.3 5.0 616.2 44.1 10.1 810.5 688.3 12.8 621.7 53.8 15.3 856.5 739.0 19.3 654.5 65.2 13.5 999.9 356.6 28.5 727.6 100.5 26.6 1171.9 976.9 34.9 792.5 149.5 43.4 1265.5 1033.9 44.8 333.9 155.3 40.4 1361.5 1077.3 61.9 858.7 156.7 57.5 1472.7 1121.4 67.2 339.3 164.9 85.7 1604.8 1193.2 74.0 943.4 175.9 103.9 1484.4 1170.8 72.8 936.2 161.7 57.3 1341.5 1050.4 68.0 862.5 119.9 42.5 18 19 20 21 22 23 47.9 3.4 2.7 41.8 0.8 32.8 4.8 28.0 55.4 3.7 2.7 49.0 0.8 34.2 5.5 23.7 71.4 3.2 3.0 65.2 0.9 34.6 5.9 28.7 72.5 3.7 2.8 66.0 0.9 30.6 5.3 25.3 66.1 4.0 3.2 59.0 1.0 49.6 5.3 44.3 39.5 5.9 8.9 74.6 1 .0 61.2 6.5 54.7 110.2 10.5 10.9 38.8 1.1 79.9 7.2 72.7 134.3 15.4 10.2 108.6 1 .1 91.2 7.3 83.9 162.6 19.8 9.7 133.1 1.2 101.9 6.5 95.4 134.3 21.7 9.9 152.8 1.2 122.1 6.4 115.7 169.2 18.3 9.2 141 .8 l.l 85.6 6.4 79.2 139.1 12.7 9.7 116.7 0.9 103.6 6.0 102.6 24 25 26 27 28 29 30 31 18 Total liabilities Deposits 19 Checkable 20 Smail time and savings 21 Large time 22 Security RPs 23 24 25 26 27 28 29 30 31 Credit market instruments Corporate bonds Bank loans n.e.c. Fed. Home Loan Bank loans Taxes payable Miscellaneous liabilities Investment by parent Other X 3.4 16 153.3 17 (2) Savings and loan associations, mutual savings banks, and federal savings banks. L.120 Credit Unions 1 Total financial assets Checkable deo. and currency 2 3 Time deposits 4 Fed.funds and security RPs Mutual fund shares 5 6 7 8 9 10 11 12 13 Credit market instruments U.S. government securities Treasury Agency Home mortgages Consumer credit Open market paper Miscellaneous assets 14 Total liabilities Shares/deposits 15 16 Checkable Small time and savings 17 18 Large time 19 Fed. Home Loan Bank loans 20 Miscellaneous liabilities BILLIONS OF DOLLARS, END OF PERIOD. 61.9 1.1 4.6 - 67.6 1.2 7.1 0.7 - 70.9 1.6 7.1 2.4 - 81.0 1.8 14.5 3.2 - 96.3 2.2 16.2 4.3 - 110.7 2.6 15.0 4.6 - 134.5 3.3 20.0 8.4 162.8 4.0 27.0 10.9 - 178.2 4.0 27.4 9.2 1.8 192.3 4.2 24.0 9.4 1.4 201.7 4.8 21.2 12.5 1.2 217.0 4.8 21.7 14.6 1.4 1 2 3 4 5 53.8 3.3 0.6 2.7 4.0 46.5 2.3 53.0 4.3 0.9 3.3 4.7 44.0 5.7 55.0 4.6 1.0 3.6 4.4 46.0 4.7 57.3 5.8 1.3 4.5 4.2 47.3 4.2 69.4 8.9 2.7 6.3 7.0 53.5 4.2 85.0 9.6 3.7 5.9 9.2 66.2 0.1 3.5 98.4 13.1 6.2 7.0 12.4 72.7 0.2 4.4 113.9 16.7 8.0 8.8 19.3 77.1 0.7 7.0 131.3 20.0 11.2 8.8 29.9 81.0 0.5 4.4 148.8 21.6 14.4 7.1 38. I 88.3 0.9 4.5 156.0 18.4 12.1 6.3 44.8 91.7 1.1 5.9 166.6 23.0 8.5 14.4 49.7 91.6 2.3 7.9 6 7 8 9 10 11 12 13 59.0 57.5 1.5 55.7 0.3 1.6 64.8 61.7 3.3 57.9 0.5 3.1 67.8 64.6 3.9 60.2 0.6 3.2 77.1 74.8 5.7 68.4 0.7 2.3 92.0 89.7 8.0 81.0 0.7 2.3 105.5 102.6 9.5 92.3 0.8 2.9 128.3 125.5 12.6 111.7 1.2 2.8 155.7 152.7 13.0 137.8 1.8 3.0 169.9 166.0 14.7 149.2 2.1 3.9 182.7 178.4 15.5 160.5 2.5 4.3 190.7 187.0 16.8 164.7 5.5 3.7 204.7 200.8 18.3 179.1 3.4 3.9 14 15 16 17 18 19 20 DECEMBER 7, 1994 Thrift Institutions Thrift Institutions L.118-1.120 Thrift Institutions 94 LEVELS, 1991-1994 LEVELS, 1991-1994 1992 1991 I IV I I II I 1 IV III 1993 II I III IV I 1 I 1994 II III L.118 Thrift Institutions (1) 1 2 3 4 5 6 1411.5 18.3 31.6 28.2 2.6 10.3 1388.4 18.2 32.6 31.1 3.2 10.4 1364.9 17.7 31.2 28.9 3.7 10.4 1348.4 16.3 29.7 26.1 3.9 10.6 1342.7 19.0 30.7 28.0 4.1 11.2 1319.4 17.1 30.4 26.5 4.3 11.3 1315.4 16.8 29.1 23.5 4.6 11.4 1314.4 18.0 28.9 21.0 4.4 11.9 1310.3 21.9 28.7 20.1 4.2 12.5 1312.4 23.8 25.6 23.2 0.1 12.0 1309.3 19.3 22.5 20.5 0.1 10.8 1307.8 Total financial assets Checkable dep. and currency 18.7 Time deposits 23.5 Fed. funds and security RPs 18.0 0.1 Mutual fund shares 11.0 Corporate equities 7 8 9 10 11 12 13 14 1192.6 203.7 2.4 72.7 758.2 132.5 19.3 3.9 1167.3 207.1 2.3 71.8 733.4 128.8 20.6 3.3 1149.6 214.8 2.3 69.9 713.3 126.4 19.1 3.7 1140.6 214.2 2.3 73.0 701.0 128.2 18.1 3.8 1134.5 225.6 2.1 80.0 681.8 129.1 12.4 3.6 1124.8 226.1 2.1 81.7 671.7 128.2 11.3 3.8 1129.8 230.0 2.0 83.3 667.5 132.8 11.0 3.1 1136.2 231.4 2.0 88.0 665.1 136.1 ll.l 2-6 1132.5 234.2 2.1 89.1 654.3 139.5 10.8 2.5 1134.0 241.3 2.1 97.4 642.0 138.7 10.4 2.1 1145.7 243.5 2.2 96.5 644.4 146.3 10.2 2.6 1157.9 249.8 2.2 92.6 647.9 152.9 10.2 2.3 15 16 2.9 125.0 3.1 122.5 2.6 120.8 2.8 118.6 3.1 112.3 2.8 102.2 3.2 97.1 3.2 90.7 3.4 86.9 3.2 90.5 3.2 87.3 2.9 75.6 17 18 19 20 21 22 1385.8 1158.8 19.6 94.6 1.2 111.6 1362.4 1144.7 15.7 89.3 1.3 110.8 1339.0 1122.4 17.7 87.6 1.2 110.1 1322.4 1103.3 16.9 89.2 1.2 111.8 1315.4 1095.7 18.6 87.9 1.4 111.9 1290.6 1067.4 21.2 90.3 1.6 110.0 1285.7 1056.5 22.5 93.5 1.7 111.5 1283.6 1047.3 24.4 97.0 1.9 113.0 1276.9 1040.9 26.1 99.2 1.9 108.7 1277.8 1040.3 28.6 97.8 2.1 109.3 1274.2 1025.4 34.2 99.3 1.4 113.9 1 2 3 4 5 6 Credit market Instruments U.S. government securities Tax-exempt securities Corporate 8 foreign bonds Mortgages Consumer credit Other loans (to business) Open market paper 7 8 9 10 11 12 13 14 Reserves at Federal Reserve Miscellaneous assets 15 16 1270.4 Total liabilities 1010.6 Deposits Security RPs 39.2 103.1 Credit mkt. instruments Taxes payable 1.1 Miscellaneous liabilities 116.3 17 18 19 20 21 22 (1) Savings and loan associations, mutual savings banks, federal savings banks, and credit unions. L.119 Savings Institutions. (2) 1 2 3 4 5 1172.0 12.9 5.0 15.1 10.3 1138.2 11.9 3.9 17.2 10.4 1110.1 11.4 3.5 16.0 10.4 1089.7 9.5 3.6 14.4 10.6 1078.8 12.4 3.7 14.4 11.2 1049.3 10.6 3.4 14.2 11.3 1040.8 10.4 2.9 12.4 11.4 1036.7 11.7 3.3 11.9 11.9 1029.5 15.4 3.0 10.6 12.5 1022.7 17.0 2.8 10.0 12.0 1015.9 12.6 2.0 9.8 10.8 6 7 8 9 10 11 12 13 14 15 1013.2 170.0 25.0 145.0 2.4 72.7 705.4 42.2 19.3 1.3 985.4 168.2 28.2 140.0 2.3 71.3 682.3 39.3 20.6 0.3 961.4 171.3 29.7 142.1 2.3 69.9 659.6 38.1 19.1 0.5 947.1 167.5 29.8 137.8 2.3 73.0 648.2 37.5 18.1 0.5 937.4 177.0 34.0 143.0 2.1 80.0 628.0 37.4 12.4 0.6 922.6 173.0 31.2 141.8 2.1 81.7 617.2 36.8 11.3 0.6 921.5 175.0 31.2 143.7 2.0 83.3 612.4 37.4 11.0 0.3 923.1 175.0 30.3 144.7 2.0 88.0 609.7 37.2 11.1 0.2 914.0 175.5 28.2 147.3 2.1 39.1 598.3 37.9 10.8 0.3 909.8 177.9 29.3 148.6 2.1 97.4 584.5 37.1 10.4 0.4 912.4 179.2 29.5 149.7 2.2 96.5 585.7 38.1 10.2 0.4 918.7 188.2 28.1 160.0 2.2 92.6 587.4 37.9 10.2 0.2 16 17 2.9 112.6 3.1 106.2 2.6 104.8 2.8 101.7 3.1 96.6 2.8 84.3 3.2 79.1 3.2 71.7 3.4 70.4 3.2 67.8 3.2 65.1 2.9 58.1 18 19 20 21 22 23 1160.0 937.5 85.3 767.6 84.6 19.6 1126.1 912.4 84.9 744.5 83.1 15.7 1099.0 886.3 78.6 730.9 77.3 17.7 1079.4 865.3 78.6 708.0 78.7 16.9 1067.9 852.3 84.0 692.2 76.7 18.6 1037.9 819.5 79.7 668.0 71.7 21.2 1029.3 805.2 83.9 649.4 71.9 22.5 1025.3 794.4 85.7 637.6 71.2 24.4 1016.1 785.4 38.3 624.0 73.0 26.1 1008.7 776.2 84.5 619.6 72.1 28.6 1002.0 758.9 33.3 604.7 70.3 34.2 24 25 26 27 28 29 30 31 94.6 8.6 8.9 77.0 1.2 107.1 5.0 102.1 89.8 7.2 9.4 73.3 1.3 106.8 4.3 102.1 87.6 6.6 8.7 72.4 1.2 105.7 4.5 101.2 89.2 5.9 8.8 74.5 1.2 106.8 4.3 102.6 87.8 5.5 8.9 73.4 1.4 107.3 4.0 103.3 90.3 5.0 8.6 76.6 1.6 105.3 4.0 101.3 93.4 4.3 8.3 80.8 1.7 106.5 4.0 102.5 96.8 4.2 8.0 84.5 1.9 107.8 4.2 103.6 99.0 3.9 8.4 86.6 1.9 103.7 4.4 99.2 97.6 3.8 10.2 83.6 2.1 104.2 4.8 99.4 99.0 3.5 7.9 87.7 1.4 103.5 5.3 103.1 1013.2 Total financial assets 12.4 Checkable dep. & currency 1.4 Time deposits 8.6 Fed. funds 8 security RPs 11.0 Corporate equities 1 2 3 4 5 Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate and fgn. oonds Mortgages Consumer credit Otner loans (to business) Open market paper 6 7 8 9 10 11 12 13 14 15 Reserves at Federal Reserve Miscellaneous assets 16 17 998.0 Total liabilities 744.0 Deposits 82.6 Checkable 589.5 Small time and savings 72.0 Large time Security RPs 39.2 18 19 20 21 22 23 102.7 3.2 7.6 91.9 1.1 110.9 5.9 105.0 24 25 26 27 28 29 30 31 Credit market instruments Corporate bonds Bank loans n.e.c. Fed. Home Loan 3ank loans Taxes payable Miscellaneous liabilities Investment by parent Other (2) Savings and loan associations, mutual savings banks, and federal savings banks. L.120 Credit Unions 1 2 3 4 5 239.5 5.4 26.7 13.2 2.6 250.2 6.3 28.7 13.8 3.2 254.8 6.3 27.7 12.9 3.7 258.7 6.8 26.1 11.6 3.9 263.9 6.6 27.0 13.5 4.1 27 0.1 6.5 26.9 12.2 4.3 274.7 6.4 26.2 11.2 4.6 277.6 6.3 25.6 9.1 4.4 280.9 6.5 25.6 9.5 4.2 289.7 6.8 22.8 13.2 0.1 293.4 6.7 20.5 10.6 0.1 294.6 Total financial assets Checkaole dep. and currency 6.3 Time deoosits 22.1 Fed.funds and security RPs 9.3 0.1 Mutual fund shares 6 7 8 9 10 11 12 13 179.4 33.7 14.1 19.6 52.8 90,3 2.6 12.3 182.0 38.9 16.4 22.5 51.0 89.5 2.6 16.3 188.2 43.0 18.4 24.6 53.7 88.3 3.2 16.0 193.5 46.7 19.9 26.9 52.8 90.7 3.3 16.9 197.1 48.6 19.9 28.7 53.8 91.7 3.0 15.7 202.3 53.1 21.2 31.9 54.6 91.4 3.2 17.9 208.3 55.0 22.3 32.7 55.1 95.4 2.8 13.0 213.1 56.4 21.8 34.6 55.4 98.9 2.4 19.1 213.5 58.7 22.3 36.3 56.0 101.6 2.2 16.5 224.2 63.4 23.4 40.0 57.5 101.6 1.7 22.6 233.3 64.2 23.3 40.4 58.7 108.2 2.2 22.2 239.2 61.6 21.4 40.2 60.5 115.0 2.1 17.5 14 15 16 17 18 19 20 225.8 221.3 20.5 196.5 4.2 4.5 236.3 232.3 21.6 206.1 4.6 4.0 240.0 235.6 22.6 208.0 5.0 4.4 243.0 238.0 23.8 208.8 5.4 247.5 242.9 25.1 212. 0 5.8 252.7 247.9 25.0 217.1 5.9 256.4 251.3 24.9 220.4 6.0 0.1 5.0 258.3 252.9 25.8 220.6 6.5 0.2 5.2 260.8 255.5 26.8 221.8 6.9 0.2 5.1 269.1 263.8 27.1 229.8 7.0 0.3 5.0 272.2 266.5 27.3 232.1 7.1 0.3 5.4 272.4 Total liabilities Shares/deposits 266.6 27.4 Checkable 232.1 Small time and savings Large time 7.1 0.4 Fed. Home Loan Bank Ioans 5.4 Miscellaneous liabilities K N M 5.0 4.6 4.3 BILLIONS OF DOLLARS, END OF PERIOD. Credit market instruments U.S. government securities Treasury Agency Home mortgages Consumer credit Open market paper Miscellaneous assets 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 DECEMBER 7, 1994 Insurance Companies and Pension Funds Insurance Companies and Pension Funds L.121-L.124 Insurance Companies and Pension Funds 95 LEVELS, 1979-1990 LEVELS, 1979-1990 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 L .121 Lifei Insurance Companies 1 Total financial assets 2 Checkable dep. and currency Money market fund shares 3 4 5 6 7 a 9 10 n 12 13 14 15 Mutual fund shares Corporate equities Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate a foreign bonds Mortgages Open market paper Policy loans Miscellaneous assets 16 Total liabilities Life insurance reserves 17 Pension fund reserves IB 19 Fed. Home Loan Bank loans 20 Taxes payable Miscellaneous liabilities 21 419.3 2.7 1.0 464.2 3.2 1.9 507.5 4.3 5.6 567.5 4.6 6.7 632.7 4.0 4.8 697.2 4.6 7.0 796.1 5.1 9.1 905.9 5.8 10.0 1005.3 4.9 6.9 1132.9 4.6 7.0 1260.2 5.0 6.2 1367.4 4.9 18.1 1 2 3 0.9 38.9 1.1 46.3 1.5 46.2 2.8 52.9 2.7 62.2 3.0 60.3 3.5 74.0 14.5 76.4 12.1 80.5 18.5 89.3 19.1 106.5 30.7 97.9 4 5 351.0 14.3 4.9 9.4 6.4 170.1 118.4 7.0 34.8 24.9 383.3 17.0 5.8 11.1 6.7 178.8 131.1 8.3 41.4 28.5 414.2 22.5 8.2 14.3 7.2 186.1 137.7 12.0 48.7 35.8 456.6 35.2 16.5 18.6 9.0 202.3 142.0 15.1 53.0 44.0 509.0 54.5 28.6 25.9 10.0 219.1 151.0 20.4 54.1 50.1 563.1 78.1 41.2 36.9 8.7 242.8 156.7 22.3 54.5 59.1 637.5 101.1 51.7 49.4 9.7 280.6 171.8 20.0 54.4 66.8 724.5 119.0 59.0 60.0 11.7 321.4 193.8 24.5 54.1 74.8 81-6.2 124.1 57.1 67.3 10.7 388.3 212.4 27.1 53.6 84.7 920.2 134.3 58.6 75.7 9.1 457.5 232.9 32.2 54.2 93.4 1022.0 153.8 52.9 100.8 9.0 511.0 254.2 36.6 57.4 101.3 1116.5 180.2 59.2 121.0 12.3 566.9 267.9 27.7 61.6 99.4 6 7 8 9 10 11 12 13 14 15 396.9 197.7 143.5 1.6 54.1 438.4 207.4 172.0 1.2 57.9 482.9 216.3 199.8 0.7 66.1 540.0 223.3 242.9 0.7 73.1 595.7 231.1 281.7 0.6 82.4 662.1 236.1 328.3 0.4 97.2 750.3 246.5 391.7 0.4 111.6 855.4 263.7 474.2 0.4 117.0 949.3 289.5 536.9 0.6 122.4 1068.2 314.4 621.9 0.7 131.2 1185.4 342.8 639.7 0.7 142.1 1290.8 368.1 784.1 0.6 137.9 16 17 18 19 20 21 L .122 Other Insurance Companies 1 Total financial assets Checkable dep. and currency 2 3 Security RPs 4 5 6 7 a 9 10 11 12 13 Corporate equities Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate & foreign bonds Commercial mortgages Trade credit Miscellaneous assets 14 Total liabilities Taxes payable 15 16 Miscellaneous liabilities 161.7 2.9 182.1 2.9 - 194.4 3.0 0.1 212.3 3.0 ' 4.1 235.2 2.6 13.7 250.9 3.1 17.9 298.6 4.3 23.6 353.6 5.6 23.7 405.0 5.5 24.6 453.9 5.4 27.9 503.0 6.0 27.8 533.5 6.5 31.0 1 2 3 24.8 113.7 16.6 10.7 6.0 72.8 23.6 0.7 13.6 6.8 32.3 123.5 18.4 12.2 6.2 80.5 23.6 1.0 15.6 7.8 32.4 132.0 20.5 13.5 7.0 83.9 26.3 1.3 18.1 8.9 38.5 137.0 22.6 14.1 8.5 87.0 25.8 1.6 20.2 9.5 48.1 138.6 28.1 17.4 10.7 36.7 21.6 2.3 22.2 9.9 44.7 150.3 37.2 23.3 13.9 34.7 25.7 2.7 25.0 9.9 57.0 176.5 51.0 28.8 22.2 38.2 33.9 3.3 27.2 10.0 61.2 219.2 64.8 42.6 22.3 101.9 48.0 4.3 32.1 11.8 65.1 258.6 73.3 51.0 22.3 124.8 55.5 5.0 35.7 15.5 71.4 287.9 82.6 60.0 22.6 134. 1 65.7 5.6 42.5 18.9 84.0 317.5 97.0 71.0 26.0 134.8 79.3 6.5 45.3 22.4 79.9 344.0 111.0 79.0 32.0 136.9 89.2 6.9 47.2 24.8 4 5 6 7 8 9 10 11 12 13 113.0 0.6 112.4 127.5 0.4 127.0 139.0 0.3 138.8 150.3 0.3 150.1 163.2 0.2 163.0 177.4 0.2 177.2 214.9 0.1 214.7 258.5 0.1 258.4 304.4 0.1 304.3 335.8 0.1 335.6 370.6 0.7 369.9 397.5 14 0.6 15 396.9 16 L. 123 Private Pension Funds (1) 413.1 5.1 24.1 3.8 1.2 504.4 4.2 28.1 3.8 2.6 530.2 3.4 32.6 3.9 6.6 659.4 2.3 37.9 11.5 4.7 800.5 2.7 48.0 12.9 S.9 861.1 3.3 54.8 13.2 6.9 1093.0 4.0 73.5 16.5 9.1 1290.8 4.3 88.9 20.5 11.0 1367.0 5.0 103.8 22.9 12.8 1421.8 4.6 120.0 31.3 14.8 1705.6 5.3 143.8 44.2 17.8 1629.1 5.8 134.0 41.6 17.8 1 2 3 4 5 Mutual fund shares Corporate equities 5.1 175.4 7.1 223.5 4.1 218.5 5.8 282.9 6.9 350.3 7.9 359.0 10.8 464.4 14.0 550.9 29.0 538.9 31.2 609.5 41.6 734.7 45.4 657.6 6 7 Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate & foreign bonds Mortgages Open market paper Miscellaneous assets 120.8 38.6 26.0 12.6 63.7 3.1 15.4 77.7 151.4 50.6 32.2 18.3 77.7 3.6 19.5 83.8 178.6 66.9 37.2 29.7 83.3 3.9 24.5 82.6 227.2 107.2 59.8 47.4 0.6 95.2 9.1 15.2 87.0 267.8 132.2 76.1 56.1 0.5 107.9 9.9 17.2 106.0 306.9 153.0 90.6 62.4 0.9 123.4 10.0 19.6 109.1 378.5 189.6 115.3 74.3 l.S 155.1 12.5 19.9 136.3 446.2 220.7 137.6 83.1 3.6 178.3 15.5 28.2 155.1 479.8 241.4 154.5 87.0 1.1 190.1 13.5 33.8 174.8 509.0 250.1 164.1 86.0 1.1 203.9 17.7 36.3 101.3 590.2 311.2 208.9 102.3 1.4 226.1 25.1 26.3 127.6 607.4 321.8 220.8 100.9 1.4 235.5 23.8 24.9 119.6 8 9 10 11 12 13 14 15 16 1 Total financial assets Checkaole dep. and currency 2 3 Small time and savings dep. Large time deposits 4 5 Mopey market fund shares 6 7 8 9 10 11 12 13 14 15 16 (1) Includes the Federal Employees* Retirement System Thrift Savings Plan. L.124 State and Local Government Employee Retirement Funds 1 Total financiai assets 2 Checkable dep. and currency 3 Large time deposits 4 5 6 7 8 9 10 11 12 13 Corporate equities Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate a foreign bonds Mortgages Open market paper Miscellaneous assets BILLIONS OF DOLLARS, END OF PERIOD. 167.7 0.6 3.5 37.1 126.6 30.1 14.7 15.4 3.9 83.0 9.6 - ' 196.6 0.6 3.7 222.8 0.6 3.8 260.9 1.0 6.0 305.4 1.4 8.8 350.3 2.0 12.0 398.7 2.4 13.3 476.5 3.1 9.9 523.9 4.3 5.2 609.0 4.4 7.1 766.7 3.2 9.1 820.4 4.7 7.4 1 2 3 44.3 147.2 40.0 20.9 19.1 4.1 92.2 10.9 0.8 47.8 169.0 51.8 27.6 24.3 3.9 100.8 12.5 1.6 60.2 190.7 71.2 36.9 34.3 3.1 102.6 13.8 3.0 89.6 199.3 88.2 48.9 39.3 2.0 93.0 14.7 2.0 5.8 96.5 235.7 111.2 67.9 43.3 1.5 102.7 15.3 5.0 4.2 120.1 257.4 123.5 82.9 40.6 1.1 107.4 15.3 10.0 5.6 150.2 305.4 153.5 102.8 50.6 0.7 119.1 15.6 16.5 8.0 169.6 335.4 179.0 120.7 58.3 0.8 117.7 15.4 22.5 8.3 219.7 353.0 181.6 123.9 57.7 0.5 134.9 15.6 20.4 24.8 300.1 399.0 197.6 124.8 72.7 0.3 166.5 15.3 19.4 55.3 296.1 433.9 224.6 142.4 82.3 0.4 169.3 16.1 23.5 78.3 4 5 6 7 8 9 10 11 12 13 DECEMBER 7, 1994 Insurance Companies and Pension Funds Insurance Companies and Pension Funds L.121-L.124 Insurance Companies and Pension Funds 96 LEVELS, 1991-1994 LEVELS, 1991-1994 1991 IV 1992 I 1 I II III IV I I 1993 II I IV III I 1 I 1994 II III L.121 Life Insurance Companies 1 2 3 1505.3 5.5 25.0 1531.2 5.4 26.4 1559.0 5.3 27.7 1588.8 5.1 28.9 1614.3 4.8 30.3 1664.6 5.3 31.8 1711.7 5.4 33.4 1754.3 5.3 35.0 1784.9 5.2 36.7 1815.1 5.4 38.5 1826.9 5.3 41.4 4 5 46.7 117.9 51.1 117.9 56.6 118.6 63.0 120.9 70.7 121.7 79.9 125.2 91.0 125.6 102.3 129.1 112.3 139.6 113.2 141.1 110.5 150.1 118.4 154.7 6 7 a 9 10 n 12 13 14 15 1199.6 241.9 77.8 164.2 10.2 595.1 265.3 20.8 66.4 110.7 1221.9 252.0 80.3 171.7 10.1 607.8 263.3 21.8 66.9 108.4 1242.6 259.2 82.4 176.9 10.3 624.8 259.3 21.0 68.0 108.2 1262.9 272.0 86.3 185.8 10.7 638.8 253.9 18.1 69.4 108.0 1278.8 281.8 88.8 193.0 11.4 653.9 246.7 12.9 72.1 108.0 1313.3 295.4 96.1 199.3 11.5 674.5 244.4 14.6 72.9 109.1 1343.9 310.8 101.6 209.2 12.5 688.2 242.2 16.2 73.9 112.5 1372.1 325.6 108.7 216.9 13.9 706.6 237.6 12.8 75.7 110.9 1383.9 332.8 110.0 222.3 14.7 719.5 229.1 10.1 77.7 107.2 1404.2 337.9 110.0 228.0 15.5 736.0 224.0 11.9 78.8 112.7 1409.1 339.6 114.2 225.4 14.9 742.9 220.8 10.1 80.9 110.5 1417.8 344.7 117.6 227.2 14.5 750.4 215.5 9.4 83.3 116.1 16 17 18 19 20 21 1409.1 393.8 865.2 1.1 149.0 1437.2 401.3 880.5 M 1.1 154.3 1463.0 405.3 900.0 K 1.1 156.7 1492.6 414.8 918.0 M 1.1 158.8 1524.6 421.5 940.5 M 1.1 161.6 1560.3 431.2 962.9 K 1.1 165.0 1602.8 440.2 992.8 0.2 1.1 168.5 1649.0 452.0 1022.2 0.1 1.2 173.6 1677.3 457.2 1042.5 0.2 1.2 176.2 1704.6 462.3 1061.5 0.3 1.2 179.3 1721.8 464.4 1075.0 0.3 1.3 180.9 1748.6 Total liabilities 470.4 Life insurance reserves 1092.6 Pension fund reserves 0.3 Fed. Home Loan Bank loans 1.3 Taxes payable 184.0 Miscellaneous liabilities 1854.9 Total financial assets Checkable dep. and currency 5.3 Money market fund shares 42.6 Mutual fund shares Corporate equities Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate 3 foreign bonds Mortgages Open market paper Policy loans Miscellaneous assets 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 L.122 Other Insurance Companies 1 2 3 575.8 5.3 26.9 584.6 5.3 27.7 591.3 5.4 29.5 589.7 5.5 31.5 597.2 5.6 32.6 606.4 5.5 32.8 617.4 5.4 32.3 628.6 5.3 ' 31.7 640.8 5.2 31.7 649.7 5.1 32.1 652.2 5.1 32.8 662.3 Total financial assets Checkable dep. and currency 5.1 33.6 Security RPs 4 5 6 7 8 9 10 11 12 13 94.1 376.6 146.2 104.0 42.1 126.8 97.2 6.5 49.1 23.7 95.7 382.5 151.1 108.1 43.0 127.2 97.8 6.4 49.2 24.2 96.2 386.5 153.4 110.5 42.9 129.2 97.7 6.3 49.1 24.6 96.4 386.4 151.1 108.5 42.5 131.8 97.4 6.1 49.0 20.8 97.3 389.4 151.4 108.7 42.6 134.3 97.8 5.9 49.0 23.3 98.6 396.3 154.9 111.9 43.0 136.9 98.9 5.6 49.3 23.9 100.2 405.3 159.7 116.2 43.5 140.0 100.4 5.2 49.8 24.4 101.9 414.6 164.7 120.7 44.0 143.1 102.0 4.8 50.3 24.7 103.4 422.7 169.0 124.5 44.5 146.1 103.1 4.5 50.7 27.1 104.3 429.6 172.6 127.7 44.8 149.0 103.9 4.2 51.0 27.5 100.3 434.8 175.7 130.6 45.1 150.8 104.4 4.0 51.3 27.7 105.3 433.3 178.7 133.3 45.4 151.6 104.7 3.9 51.6 27.3 14 15 16 417.0 1.1 416.0 422.1 1 .1 421.0 428.5 1.1 427.4 434.7 1.1 433.6 440.3 1.1 439.2 444.6 1.1 443.5 448.2 1.1 447.1 451.5 1.2 450.4 457.8 1.2 456.6 463.2 1.2 461.9 468.6 1.3 467.3 474.0 Total liabilities 1.3 Taxes payable 472.7 Miscellaneous liabilities Corporate equities Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate 2 foreign bonds Commercial mortgages Trade credit Miscellaneous assets 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 L.123 Private Pension Funds (1) 1 2 3 4 5 2055.9 4.7 173.7 55.4 18.8 2019.6 4.7 173.4 55.2 21.6 2050.9 4.7 176.0 54.8 20.9 2114.6 4.4 177.1 54.7 20.3 2213.3 4.6 182.8 55.3 20.3 2314.3 5.0 190.5 58.7 20.9 2343.9 4.9 188.7 58.3 22.1 2428.2 4.7 189.9 59.0 23.4 2449.3 4.6 186.0 58.6 24.3 2365.0 4.0 174.3 56.0 24.9 2333.6 3.6 164.8 54.0 25.3 2389.3 Total financial assets 3.5 Checkable dep. and currency 164.7 Small time and savings dep. 54.5 Large time deposits 25.3 Money market fund shares 1 2 3 4 5 6 7 64.4 888.5 69.2 855.5 73.4 862.4 78.6 892.0 86.4 962.1 97.0 1005.3 110.5 1017.1 124.8 1055.2 137.3 1079.5 140.7 1036.1 138.3 1028.1 148.8 1069.5 6 7 a 693.0 362.3 253.9 108.3 1.6 275.7 32.2 20.8 157.3 684.7 358.1 247.5 110.5 1.6 272.3 31.3 21.0 155.2 703.3 369.4 256.6 112.7 1.7 280.9 31.7 19.7 155.4 728.2 383.4 267.7 115.8 1.7 292.4 32.5 18.1 159.3 730.4 383.5 271.5 112.1 1.7 292.1 35.2 17.9 171.6 759.8 398.4 278.9 119.5 1 .8 303. I 36.2 20.4 177.2 762.6 397.8 279.5 118.3 1.8 305.3 36.7 20.6 179.1 785.6 409.5 287.9 121.6 1.8 316.3 33.2 19.3 185.7 770.6 401.2 286.4 114.8 1.8 309.4 39.0 19.2 189.0 746.2 389.6 277.2 112.5 1.8 299.7 37.7 17.4 182.9 738.5 335.3 275.4 109.9 1.7 298.4 37.2 15.3 180.7 735.1 381.8 274.2 107.6 1.7 296.7 38.8 16.1 187.4 9 10 u 12 13 14 15 16 (1) Includes the Federal Employees Mutual fund shares Corporate equities Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate 8 foreign bonds Mortgages Open market paper Miscellaneous assets 8 9 10 11 12 13 14 15 16 Retirement System Thrift Savings Plan L.124 State and Local Government Employee Retirement Funds 1 2 3 941.2 5.3 7.3 970.2 5.5 7.0 978.4 6.1 6.7 1024.6 5.2 6.1 1058.8 6.1 5.5 1077.0 5.6 5.8 1067.3 5.8 6.6 1095.3 5.6 9.5 1121.6 6.8 8.0 1138.2 6.9 8.1 1138.9 7.0 8.2 4 5 6 7 8 9 10 11 12 13 386.6 479.9 234.6 150.8 83.7 0.2 195.4 16.9 32.8 62.0 403.1 439.9 238.1 149.2 88.9 0.1 202.2 16.2 33.4 64.7 403.7 498.4 237.2 153.2 34.0 0.1 209.6 15.9 35.6 63.5 423.2 510.1 241.7 153.7 88.0 0.3 216.3 14.6 37.2 80.0 448.9 514.3 238.4 155.3 83.1 0.4 223.2 13.6 38.6 84.0 465.8 514.6 235.5 159.2 76.4 0.5 223.0 15.6 40.0 35.2 469.0 526.5 240.0 165.1 74.8 0.6 229.7 14.5 41.7 59.9 487.3 533.4 243.2 172.6 75.6 0.5 231.4 15.1 38.2 59.0 506.7 542.6 250.5 171.3 79.3 0.6 238.0 14.5 38.9 57.6 511.1 553.9 256.2 175.0 81.2 0.6 243.4 14.6 39.0 58.2 494.2 566.7 263.3 179.7 83.7 0.6 248.6 14.9 39.2 62.3 BILLIONS OF DOLLARS, END OF PERIOD 1183.7 Total financial assets 7.0 Checkable dep. and currency 8.3 Large time deposits 517.4 577.0 268.1 183.2 84.9 0.7 253.9 14.9 39.4 73.9 Corporate equities Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate & foreign bonds Mortgages Open market paper Miscellaneous assets 1 2 3 4 5 6 7 8 9 10 11 12 13 DECEMBER 7, 1994 Other Finance Other Finance L.125-L.129 Other Financial Institutions 97 LEVELS, 1979-1990 LEVELS, 1979-1990 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 L.125 Finance Companies (1) 1 Total financial assets 2 Checkable dep. and currency 3 Credit market instruments 4 Mortgages Consumer credit 5 6 Other loans (to business) 7 Miscellaneous assets 8 Total liabilities Credit market instruments 9 Corporate bonds 10 Bank 103ns n.e.c. ll Open market paper 12 13 14 15 16 17 Taxes payable Miscellaneous liabilities Fgn. dir. invest, in U.S. Investment by parent Other 189.1 4.6 167.8 11.3 72.0 84.5 16.8 204.8 4.7 181.4 13.8 78.9 88.7 18.7 230.9 4.8 204.1 16.8 87.8 99.4 22.0 242.7 4.9 212.3 18.7 93.2 100.4 25.5 270.4 5.1 237.6 20.5 103.7 113.4 27.8 306.1 5.2 273.3 23.8 111.7 137.8 27.6 365.3 5.5 319.7 28.6 132.4 158.7 40.1 421.3 5.9 362.4 34.2 151.0 177.2 53.1 484.0 6.5 409.9 42.2 154.0 213.8 67.6 534.6 7.3 448.0 47.3 155.3 245.3 79.4 571.2 8.3 468.6 53.8 144.6 270.2 94.3 610.9 9.4 497.6 65.5 138.6 293.6 103.9 169.2 132.6 59.6 12.4 60.7 181.9 126.9 65.5 13.8 47.6 206.2 141.6 68.9 15.5 57.2 216.3 144.9 77.0 16.5 51.4 241.6 159.7 81.0 18.3 60.5 274.7 183.6 90.5 20.0 73.1 329.7 224.3 105.3 16.4 102.7 382.2 275.9 131.6 20.0 124.3 438.9 299.1 141.2 22.9 135.0 477.9 323.0 147.0 23.9 152.1 503.3 350.4 162.7 27.0 160.7 534.5 8 374.4 9 178.2 10 31.0 11 165.3 12 0.4 36.2 0.1 21.0 15.0 0.2 54.8 0.4 24.4 29.9 0.1 64.5 M 16.5 48.0 M 71.4 0.4 23.2 47.8 K 81.8 * 23.1 53.6 * 91.0 1.9 36.9 52.1 0.1 105.3 1.4 52.5 51.4 0.1 106.2 3.6 60.0 42.6 0.2 139.6 3.5 50.0 86.2 0.3 154.6 2.7 36.8 115.2 0.4 152.5 9.3 35.2 107.9 0.6 159.5 4.6 37.5 117.4 13 14 15 16 17 I 2 3 4 5 6 7 (1) Includes retail captive finance companies. L.126 Mortgage Companies 1 Total financial assets Home mortgages 2 3 Multifamily mortgages 4 Commercial mortgages 16.8 12.0 2.0 2.8 16.1 11.0 2.2 3.0 16.4 11.2 2.1 3.1 18.6 13.4 2.2 3.0 19.5 14.3 1.3 3.4 21.6 15.7 1.8 4.1 24.7 18.5 2.0 4.2 36.6 29.5 2.7 4.4 23.9 17.7 1.8 4.4 29.0 22.6 2.0 4.4 49.2 42.8 1.8 4.5 49.2 41.9 2.8 4.5 1 2 3 4 5 Total liabilities 6 Bank loans n.e.c. 7 Investment by parent 16.8 12.1 4.7 16.1 11.6 4.5 16.4 11.8 4.6 '18.6 13.4 5.2 19.5 14.0 5.5 21.6 15.5 6.0 24.7 16.7 8.1 36.6 25.7 10.9 23.9 14.5 9.4 29.0 14.5 14.5 49.2 24.6 24.6 49.2 24.6 24.6 5 6 7 1 2 L.127 Mutual Funds (2) 1 Total financial assets Checkable dep. and currency 2 3 4 5 6 7 8 9 10 Corporate equities Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate 3 foreign bonds Open market paper 11 Total shares outstanding 51.8 0.7 61.8 0.3 59.8 0.8 76.9 1.2 112.1 1.7 136.7 2.1 240.2 3.8 413.5 6.5 460.1 6.9 478.3 7.2 566.2 8.5 602.1 8.7 35.4 15.6 1.5 1 .5 4.0 7.2 2.9 42.4 18.5 1.9 1.9 4.4 8.5 3.8 37.4 21.6 2.8 2.8 5.1 10.1 3.6 49.4 26.3 5.1 5.1 8.0 10.2 3.0 74.4 36.0 5.7 5.7 13.4 13.0 4.0 80.6 54.0 12.0 11.5 0.5 19.1 16.5 6.4 113.7 122.7 64.9 52.9 12.0 33.5 20.1 4.1 161.2 245.3 124.2 89.3 34.9 65.3 46.9 9.4 181.7 271.6 134.1 99.2 34.9 70.7 54.2 12.6 187.6 283.4 114.9 81.5 33.4 78.7 68.4 21.4 250.5 307.2 120.0 86.8 33.2 93.6 74.1 19.6 233.2 3 360.2 4 137.5 5 101.0 6 7 36.5 109.1 8 87.6 9 25.9 10 51 .8 61.8 59.8 76.9 112.1 136.7 240.2 413.5 460.1 478.3 566.2 602.1 11 (2) Open-end investment companies; does not include College Retire ment Equities Fund (CREF), which is included in the private pension funds sector (L.123). L.128 Closad-End Funds 1 Total financial assets 2 3 4 5 6 Coroorate equities Credit market instruments U.S. government securities Tax-exempt securities Corporate 3 foreign bonds 7.9 7.9 7.1 7.5 7.4 6.4 8.3 14.5 21.3 43.2 52.5 51.9 1 4.9 3.0 0.6 2.4 4.9 3.0 0.6 2.4 4.2 2.9 0.6 2.3 4.1 3.4 0.6 2.8 4.3 3.1 0.6 2.6 3.7 2.7 0.5 2.2 4.2 4.1 0.6 1.0 2.5 7.5 7.0 1.0 2.0 3.9 10.4 11.0 1.6 3.3 6.1 14.3 28.8 4.3 7.5 16.5 17.1 35.4 6.6 12.1 16.7 16.3 35.6 6.6 13.9 15.0 2 3 4 5 6 1 2 3 4 5 L., 129 Money Market Mutual Funds 1 Total financial assets 2 Checkable dep. and currency 3 Time deposits 4 Security RPs 5 Foreign deposits 6 7 8 9 10 11 12 Credit market instruments U.S. government securities Tr easury Agency Tax-exempt securities Open market paper Miscellaneous 13 Total shares outstanding BILLIONS OF DOLLARS, END OF PERIOD. 45.2 0.1 12.0 2.4 5.1 76.4 0.2 21.0 5.6 6.8 186.2 -.5 43.9 14.5 18.8 219.8 0.3 40.8 16.2 23.8 179.4 -.3 24.0 13. 0 21.9 233.6 -1.2 23.6 22.8 21.2 243.8 0.2 16.8 26.1 19.0 292.1 19.1 32.2 22.2 316.1 -.3 33.6 39.3 21.6 338.0 0.7 32.8 41.7 29.7 423. 1 0.1 41.2 54.9 26.4 498.4 11.4 21.0 59.0 27.1 24.9 5.6 1.6 4.0 19.3 0.7 41.7 8.2 3.5 4.8 1.9 31.6 1.1 106.5 31.9 21.5 10.4 4.2 70.4 2.9 137.0 54.6 42.6 12.0 13.2 69.1 1.8 119.2 36.2 22.8 13.4 16.8 66.2 1.5 164.2 42.4 25.4 17.0 23.8 98.0 3.0 178.1 42.7 24.6 18.1 36.3 99.1 3.6 212.2 43.2 28.0 15.1 63.3 105.3 6.5 214.0 41.3 14.3 27.0 61.4 111.3 7.9 224.7 29.9 11.6 18.4 65.7 129.1 8.5 291.8 35.8 14.8 21.0 69.4 186.6 13.7 372.7 6 32.4 7 45.5 8 36.9 9 83.6 1 0 206.7 11 7.3 12 45.2 76.4 186.2 219.8 179.4 233.6 243.8 292.1 316.1 338.0 428.1 498.4 13 M DECEMBER 7, 1994 Other Finance Other Finance L.125-L.129 Other Financial Institutions LEVELS, 1991-1994 1991 IV I I LEVELS, 1991-1994 I 11 1992 I 11 III IV 1993 I II IV III I 1 1994 II I III L..125 Finance Companies (1) 1 2 3 4 5 6 7 633.9 10.6 484.9 65.8 126.2 292.9 138.4 625.0 10.9 479.4 66.4 122.2 290.8 134.6 619.9 11.2 480.5 66.8 120.5 293.2 128.2 624.4 * 11.6 477.8 68.8 120.6 268.5 135.0 637.2 11.9 486.6 68.4 121.6 296.5 138.8 628.5 12.0 477.9 72.5 112.6 292.7 138.6 625.2 12.1 473.7 71.4 110.6 291.8 139.4 637.9 12.2 474.0 71.1 111.0 291.9 151.7 653.7 12.3 482.8 71.7 116.5 294.6 158.6 665.7 12.4 494.5 72.1 120.1 302.3 158.8 685.9, 12.5 511.3 73.8 124.3 313.2 162.1 701.3 Total financial assets 12.6 Checkable dep. and currency Credit market Instruments 524.2 76.6 Mortgages 130.3 Consumer credit Other loans (to business) 317.2 164.6 Miscellaneous assets 6 9 10 11 12 556.5 393.0 191.3 42.3 159.5 559.0 382.2 189.8 38.0 154.4 552.8 377.4 191.9 37.8 147.7 556.3 382.7 191.4 38.1 153.2 569.4 389.4 195.3 37.6 156.4 562.0 381.3 197.3 34.1 149.8 557.0 373.8 199.9 29.4 144.5 569.0 380.0 204.2 25.8 149.9 582.3 390.5 206.0 25.3 159.2 596.2 401.9 211.7 24.2 165.9 612.7 414.2 219.6 23.3 171.2 629.0 Total liabilities 420.9 Credit market instruments 228.2 Corporate bonds 21.6 Bank loans n.e.c. 171.0 Open market paper 8 9 10 11 12 13 14 15 16 17 0.7 162.7 11.6 34.5 116.6 0.7 176.1 12.4 34.5 129.2 0.8 174.6 12.4 34.8 127.4 0.8 172.8 12.8 34.9 125.1 0.8 179.2 13.9 37.3 127.5 0.8 179.9 13.5 43.1 123.3 0.8 182.4 17.7 45. 0 119.6 0.9 188.2 18.5 44.6 125.0 0.9 190.9 21.5 42.7 126.7 0.9 193.5 23.4 41.1 129.0 1.0 197.6 25.2 44.7 127.7 1.0 207.2 25.0 50.0 132.2 13 14 15 16 17 Taxes payable Miscellaneous liabilities Fgn. dir. invest, in U.S. Investment by parent Other 1 2 3 4 5 6 7 (1) Includes retail captive finance companies. L.126 Mortgage Companies 1 2 3 4 60.3 53.1 2.7 4.5 66.1 59.0 2.7 4.4 56.4 48.8 2.7 4.9 63.7 55.9 2.9 4.8 60.5 52.7 3.0 4.8 47.9 40.1 3.0 4.8 64.1 56.3 3.1 4.8 63.8 55.8 3.0 5.0 60.4 52.2 3.1 5.1 46.6 38.4 3.1 5.1 30.0 21.8 3.1 5.1 25.0 Total financial assets 16.8 Home mortgages 3.1 Multifamily mortgages 5.1 Commercial mortgages 1 2 3 4 5 6 7 60.3 22.2 38.2 66.1 29.0 37.0 56.4 28.2 28.2 63.7 31.8 31.9 60.5 30.2 30.3 47.9 23.9 24.0 64.1 32.0 32.1 ' 63.8 31.8 32.0 60.4 29.2 31.2 46.6 22.3 24.3 30.0 14.0 16.0 25.0 Total liabilities 11.5 Bank loans n.e.c. 13.5 Investment by parent 5 6 7 L.127 Mutual Funds (2) 1 2 813.9 12.3 860.4 13.0 924.4 13.9 965.6 14.9 1042.1 16.1 1134.6 17.6 1225.8 19.1 1342.4 20.8 1429.3 22.2 1439.0 22.9 1443.1 23.1 3 4 5 6 7 8 9 10 351.1 450.5 191.4 143.1 48.3 137.1 100.5 21.5 363.6 478.8 192.4 139.5 52.9 145.5 110.3 30.5 400.3 510.2 198.4 138.5 59.8 154.4 123.8 33.7 400.4 550.2 230.3 163.6 66.7 164.7 115.2 40.0 451.7 574.2 251.8 182.3 69.5 173.4 120.3 28.8 505.6 611.4 259.6 187.3 72.3 186.8 130.2 34.7 546.7 659.9 267.9 192.6 75.2 198.8 148.1 45.2 618.0 703.6 282.2 192.7 89.5 211.0 167.6 42.8 668.9 738.2 293.6 208.2 85.4 217.9 176.4 50.3 696.0 720.0 253.8 183.4 75.4 221.0 179.0 61.2 697.2 722.9 256.8 185.4 71.4 219.8 177.8 68.5 11 813.9 860.4 924.4 965.6 1042.1 1134.6 1225.8 1342.4 1429.3 1439.0 1443.1 1563.7 Total financial assets 24.2 Checkable dep. and currency 821.3 718.2 242.6 169.0 73.6 220.6 180.8 74.2 1 2 Corporate equities 3 Credit market instruments 4 U.S. government securities 5 Treasury 6 Agency 7 Tax-exempt securities 8 Corporate Z foreign bonds 9 Open market paper 10 1563.7 Total shares outstanding 11 (2) Open-end investment compan i es; does not include College Retirement Equities 1Fund (CREF), which is included in the private pension funds sector (L .123). L. 128 Closed-End Funds 1 72.0 78.0 82.1 86.0 91.0 96.5 99.7 103.0 107.2 111.8 111.3 2 3 4 5 6 21.3 50.3 9.7 26.9 13.6 22.4 55.7 10.3 31.0 14.4 22.5 59.6 10.8 34.5 14.3 22.6 63.4 11.2 37.9 14.3 23.3 67.7 11.8 40.6 15.3 24.7 71.9 12.4 42.2 17.2 25.2 74.5 13.2 43.3 18.0 27.0 76.0 14.0 43.4 18.6 29.3 77.9 14.6 44.0 19.3 31.7 80.1 15.0 44.9 20.1 30.3 81.0 15.4 45.0 20.6 113.3 Total financial assets 31.9 81.3 15.6 45.1 20.7 Corporate equities Credit market instruments U.S. government securities Tax-exempt securities Corporate Z foreign bonds 1 2 3 4 5 6 L.129 Money Market Mutual Funds 1 2 3 4 5 539.6 -.2 33.0 68.2 21.6 572.0 -.7 33.5 80.7 20.3 556.9 -2.6 31.1 80.9 16.7 552.9 -3.9 34.0 72.7 21.4 543.6 -2.7 30.9 67.1 20.5 556.6 -1.1 36.2 74.2 18.8 549.8 -2.1 28.3 69.2 19.1 547.9 -3.2 20.4 77.9 12.9 559.4 -1.2 25.0 67.5 10.1 582.4 1.3 20.1 74.2 11.5 576.4 -1.9 21.7 72.5 9.0 586.1 Total financial assets -1.7 Checkable dep. and currency 26.3 Time deposits 71.9 Security RPs 8.3 Foreign deposits 6 7 8 9 10 11 12 402.7 120.9 79.6 41.3 89.9 191.9 14.2 424.0 124.2 34.5 39.7 96.6 203.3 14.1 412.0 123.4 79.4 44.0 93.0 195.7 18.8 408.2 130.3 79.4 50.9 91.3 186.7 20.4 404.1 134.6 79.7 54.8 94.8 174.7 23.7 404.5 128.7 77.7 51.1 99.9 175.9 24.0 403.9 132.5 75.8 56.8 97.0 174.4 31.4 400.6 141.0 75.2 65.3 99.3 160.3 39.2 417.0 148.5 80.5 68.0 103.4 165.1 40.9 422.2 138.8 70.5 68.3 114.9 168.5 52.5 422.0 130.7 59.5 71.2 111.2 180.1 53.2 425.1 133.9 59.9 74.0 110.5 180.7 56.2 13 539.6 572.0 556.9 552.9 543.6 556.6 549.8 547.9 559.4 582.4 576.4 586.1 Total shares outstanding BILLIONS OF DOLLARS, END OF PERIOD. 1 2 3 4 5 6 Credit market Instruments U.S. government securities 7 8 T r easury Agency 9 Tax-exempt securities 10 Open market paper 11 Miscellaneous 12 13 DECEMBER 7, 1994 Other Finance, Continued Other Finance, 99 LEVELS, Continued L.130-L.133 Other Financial Institutions, Continued LEVELS, 1979-1990 1979-1990 1979 1980 1981 1982 1983 1984 1985 . 1986 1987 1988 1989 1990 L.130 Real Estate Investment Trusts (REITs) 3.3 0.5 2.8 1.6 -1.6 3.2 0.4 2.4 1.3 -.9 3.2 0.3 1.6 0.8 0.5 3.4 0.3 1.5 0.8 0.8 3.5 0.2 1.5 0.9 0.8 5.5 0.2 1.9 1.3 2.0 8.2 0.3 3.8 1.8 2.3 8.3 0.3 3.9 1.8 2.4 10.4 0.3 4.5 2.1 3.4 13.9 0.4 5.1 2.4 6.0 15.4 0.4 5.4 2.5 7.0 13.2 0.4 5.0 2.3 5.5 6 Total liabilities 7 Security RPs Credit market Instruments 8 9 Mortgages 10 Corporate bonds Bank loans n.e.c. 11 Open market paper 12 4.4 5.1 2.0 1.6 0.8 0.8 4.1 4.6 1.9 1.4 0.7 0.5 4.0 3.7 1.9 0.7 0.6 0.6 4.0 3.7 2.0 0.7 0.6 0.4 3.8 3.5 2.1 0.7 0.4 0.4 4.8 4.2 2.5 0.8 0.4 0.6 6.1 5.5 2.5 1.5 0.7 0.7 7.4 6.7 2.8 1.8 1.0 1.1 9.5 8.3 3.1 2.3 1.5 1.4 13.8 10.3 3.4 2.5 3.1 1.3 13.8 11.6 3.7 2.7 4.1 1.1 13.6 6 7 12.4 8 4.3 9 2.8 10 4.4 11 0.9 12 Miscellaneous liabilities -.7 -.5 0.3 0.3 0.3 0.5 0.7 0.8 1.2 3.5 2.1 1.2 13 1 Total financial assets Home mortgages 2 Commercial mortgages 3 Multifamily mortgages 4 Miscellaneous assets 5 13 1 2 3 4 5 L. 131 Security Brokers and Dealers 1 Total financial assets Checkable dep. and currency 2 Corporate equities 3 32.7 2.2 2.6 45.4 3.0 3.3 59.8 2.8 3.5 83.3 4.5 4.9 90.5 3.6 10.0 118.4 3.9 8.9 156.0 6.3 14.1 184.6 8.5 17.7 137.9 7.4 10.7 135.9 9.4 12.2 236.6 9.3 14.1 262.1 10.2 9.6 1 2 3 4 5 6 7 8 9 10 Credit market instruments U.S. govt, securities Treasury Agency Tax-exempt securities Corporate and fgn. bonds Open market paper 3.9 -7.0 -7.0 2.2 1.6 7.2 6.6 -4.7 -4.7 2.5 2.0 6.3 20.9 3.0 3.0 3.0 3.4 11.6 36.2 9.2 9.2 4.6 5.9 16.4 25.5 -.5 -.5 6.5 7.9 11.6 54.1 12.1 12.1 11.0 13.7 17.3 58.2 0.9 -4.0 4.9 19.9 22.9 14.5 66.3 13.9 4.1 9.8 16.6 23.2 12.6 39,8 -2.0 -16.7 14.6 8.3 19.4 14.2 23.5 -27.9 -47.4 19.5 7.5 29.1 14.8 103.7 45.9 21.5 24.4 7.1 32.9 17.8 106.5 4 51.3 5 7.3 6 44.0 7 7.9 8 28.9 9 18.4 10 11 12 Security credit Miscellaneous assets 17.5 6.5 24.7 7.8 23.0 9.5 25.8 11.9 34.2 17.1 31.8 19.6 50.7 26.8 57.4 34.7 41.8 38.2 43.5 47.2 42.5 66.5 38.8 11 97.0 12 28.5 -9.6 - 39.1 -8.7 - 52.5 -.3 - 74.9 24.3 80.1 8.4 0.4 108.1 25.5 1.1 141.3 23.7 1.3 164.3 35.6 3.4 114.5 -8.8 3.2 111.5 -21.9 7.5 213.2 64.2 13.8 239.2 13 81.0 14 15.3 15 30.5 20.2 10.4 37.2 20.9 16.2 40.9 26.2 14.7 44.1 26.2 17.8 49.2 28.7 20.6 56.0 34.5 21.6 80.5 45.4 35.1 83.6 39.6 44.0 73.5 34.4 39.1 74.8 33.9 40.9 91.4 38.2 53.2 98.6 16 36.2 17 62.4 18 1.3 0.2 6.1 1.3 4.8 1.7 0.5 8.5 0.9 8.6 -1.0 2.1 0.3 9.5 1.1 4.2 4.2 2.6 0.6 3.3 1.8 5.7 -4.2 5.1 0.5 16.5 2.3 6.7 7.5 5.5 0.4 19.6 3.7 7.5 8.4 8.0 0.8 27.0 3.8 16.0 7.1 7.6 0.9 33.1 3.6 19.4 10.1 6.8 0.4 39.4 3.1 36.7 -.5 8.5 0.5 42.0 4.8 45.8 -8.7 8.0 0.6 35.2 6.3 46.9 -18.0 6.1 0.7 37.5 3.8 35.9 -2.1 19 20 21 22 23 24 I 2 3 4 5 6 7 8 9 13 Total liabilities Security RPs, net 14 Corporate bonds 15 16 17 18 Security credit From banks Customer credit balances 19 20 21 22 23 24 Trade debt Taxes payable Miscellaneous liabilities Fgn. direct invest, in US Due to affiliates Other L.132 Issuers of Asset-Backed Securities (ABSs) 1 Total financial assets Agency securities (1) 2 Mortgages (2) 3 4 Home Multifamily 5 Commercial 6 Consumer credit 7 Loans to business 8 9 Trade credit 10 Total liabilities Corporate bonds 11 12 Commercial paper - - - - 3.7 3.0 0.7 23.4 10.9 11.0 11.0 1.5 39.4 23.9 13.0 13.0 2.4 31.4 61.5 16.6 16.6 - ■ 3.3 131.3 97.7 28.5 27.8 0.2 0.5 5.1 169.0 124.9 37.3 34.9 0.4 2.1 6.8 225.8 118.7 48.3 43.3 0.5 4.5 48.7 2.0 8.0 278.1 125.4 59.2 53.3 0.7 5.2 78.5 5.8 9.2 - - - - 3.7 3.0 0.7 23.4 21.9 1.5 39.4 36.9 2.4 81.4 78.1 3.3 131.3 126.2 5.1 169.0 162.2 6.8 225.8 210.1 15.7 278.1 10 246.7 11 31.4 12 (1) Includes federally related mortgage pool securities backing privately issued CMOs. (2) Includes mortgages backing privately issued pool securities and privately issued CMOs. L.133 Bank Personal Trusts and Estates (3) 1 Total financial assets 2 Deposits Checkable dep. and curr. 3 4 Small time 3nd svgs.dep. 5 Large time deposits 6 Money market fund shares 7 8 9 10 11 12 13 14 Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate 8 foreign bonds Mortgages Open market paper 15 16 Mutual fund shares Corporate equities 17 Miscellaneous assets 215.2 9.1 2.1 0.9 4.9 1.2 244.8 10.2 2. 1 1.0 5.0 2.2 248.1 15.0 2.2 1.0 5.2 6.5 264.2 16.7 1.8 1.1 5.9 7.8 293.2 15.2 1.3 1.3 7.0 5.6 306.1 18.8 1.6 1.4 7.5 8.3 358.3 24.7 0.9 1.8 9.2 12.8 404.4 31.6 1.7 2.2 11.4 16.4 414.234.1 1.0 2.7 13.9 16.6 443.7 40.0 1.0 3.1 16.1 19.8 515.1 43.3 0.9 3.2 16.8 22.3 522.1 47.2 1.0 3.3 17.0 26.0 1 2 3 4 5 6 83.6 23.4 11.4 12.1 27.7 16.4 3.6 12.6 88.8 27.3 13.8 13.4 26.0 17.1 4.4 13.9 96.7 29.6 16.1 13.6 29.6 17.4 4.7 15.4 100.3 29.8 16.4 13.4 31.2 16.0 4.8 18.5 109.4 33.6 17.9 15.6 35.7 15.8 5.5 18.8 123.1 39.0 22.1 16.8 39.9 15.6 5.0 23.6 132.8 42.5 23.3 19.2 48.2 15.7 5.0 21.5 151.4 43.9 23.9 20.0 56.9 20.5 4.5 25.6 163.9 49.6 27.2 22.4 63.1 25.1 3.7 22.4 177.8 57.4 31.6 25.8 65.9 24.5 3.7 26.3 197.5 62.4 34.4 28.0 73.0 27.1 4.1 30.9 213.4 70.7 39.2 31.5 80.8 27.3 4.2 30.5 7 8 9 10 11 12 13 14 5.4 113.0 6.4 135.0 6.0 125.0 7.8 133.9 10.4 152.4 12.9 145.5 22.7 171.4 51.1 163.8 52.0 156.4 46.5 171.7 57.9 207.3 62.7 15 190.1 16 4.1 4.4 5.4 5.4 5.8 5.9 6.8 6.5 7.8 7.6 9.0 8.7 17 (3) Includes personal trusts and estates administered by nondeposit noninsured trust companies. BILLIONS OF DOLLARS, END OF PERIOD. DECEMBER 7, 1994 Other Finance, Continued Other Finance, Continued 100 L.130-L.133 Other Financial Institutions, Continued LEVELS, 1991-1994 1991 IV LEVELS, 1991-1994 1992 1 I ][ II IV III 11 i1 1993 I II IV III 1 1 I 1994 II III L.130 Real Estate Investment Trusts (REITs) 1 2 3 4 5 14.0 0.4 4.5 2.2 7.0 13.S 0.7 1.6 4.5 7.0 14.3 0.8 1.8 4.9 6.8 14.0 0.8 1.8 4.8 6.6 13.8 0.9 1.9 5.3 5.8 13.0 0.9 2.0 5.2 4.9 15.4 0.9 2.1 5.4 7.1 16.4 0.9 2.1 5.5 7.8 17.4 0.9 2.1 5.5 8.8 17.7 1.0 2.2 5.7 8.9 18.0 1.0 2.2 5.8 9.0 18.2 Total financial assets Home mortsases 1.0 2.3 Commercial mortsases 5.9 Multifamily mortsases 9.1 Miscellaneous assets 6 7 8 9 10 11 12 16.5 13.6 4.S' 3.0 5.0 0.9 16.0 1.4 14.4 5.0 3.1 5.5 0.9 16.5 1.9 14.8 5.0 3.3 5.6 0.9 16.6 2.4 15.3 5.1 3.4 5.9 0.9 19.3 2.9 13.9 5.4 4.0 3.7 0.9 18.1 3.4 14.0 5.7 4.1 3.6 0.7 19.9 4.0 14.4 6.0 4.2 3.6 0.5 22.0 4.6 15.8 7.6 4.2 3.5 0.6 24.7 5.0 17.4 8.9 4.3 3.6 0.6 24.8 5.4 17.7 9.0 4.5 3.6 0.6 25.8 5.6 18.3 9.1 4.8 3.7 0.6 26.0 Total liabilities 5.7 Security RPs 18.8 Credit market instruments 9.2 Mortsases 5.2 Corporate bonds Bank loans n.e.c. 3.8 0.7 Open market paper 13 2.9 0.2 -.1 -1.1 2.4 0.6 1.5 1.6 2.3 1.7 1.9 1.4 Miscellaneous liabilities 1 2 3 4 5 6 7 8 9 10 11 12 13 L.131 Security Brokers and Dealers 1 2 3 332.5 10.2 14.3 322.5 10.0 12.3 342.3 10.3 12.7 395.7 10.7 12.1 372.1 10.3 14.8 398.5 11.1 15.8 417.2 10.9 19.2 440.1 11.1 21.5 453.8 12.3 24.2 453.9 14.8 22.3 453.6 14.2 19.7 456.0 Total financial assets Checkable dep. and currency 13.5 20.0 Corporate equities 4 5 6 7 8 9 10 124.0 59.7 5.7 54.0 9.4 40.9 14.0 108.3 42.2 -15.4 57.6 7.9 44.7 13.6 135.2 60.9 -5.7 66.5 10.1 47.6 16.7 145.4 61.6 -.4 62.1 9.4 58.2 16.2 117.1 43.3 -9.6 53.0 11.3 50.9 11.6 135.9 53.1 -10.7 63.3 9.9 59.8 13.0 149.0 60.0 -14.3 74.7 14.4 61.0 13.7 147.1 47.9 -49.7 97.6 14.2 71.7 13.2 126.3 24.2 -54.7 78.9 17.1 73.0 12.0 112.3 12.4 -72.1 84.5 13.1 77.0 9.9 99.2 1.9 -90.3 92.2 12.5 67.4 17.4 95.6 5.2 -92.0 97.2 12.4 66.5 11.4 Credit market instruments U.S. sovt. securities Treasury Asency Tax-exempt securities Corporate and fgn. bonds Open market paper 4 5 6 7 8 9 10 11 12 55.1 129.0 51.2 140.6 56.3 127.8 55.3 171.3 53.3 176.6 59.1 176.6 58.7 179.4 66.6 193.9 75.9 214.9 76.5 228.1 75.7 244.9 72.2 254.8 Security credit Miscellaneous assets 11 12 13 14 15 308.6 106.7 19.0 297.4 82.2 19.7 316.1 100.3 23.1 368.3 128.7 22.7 342.2 98.8 21.7 366.7 124.9 19.3 385.0 125.3 22.8 403.2 124.3 26.4 415.9 113.1 33.7 417.6 97.9 31.3 418.4 105.9 31.3 421.3 Total liabilities 118.8 Security RPs, net 29.4 Corporate bonds 13 14 15 16 17 18 133.8 46.8 87.0 143.4 71.6 71.8 137.0 71.9 65.1 158.6 80.6 78.0 164.1 88.0 76.1 165.9 79.6 86.3 175.9 89.3 86.7 187.9 88.4 99.5 203.3 100.7 102.7 206.3 95.9 110.3 202.4 90.6 111.8 191.0 84.0 107.0 Security credit From banks Customer credit balances 16 17 18 19 20 21 22 23 24 6.8 0.9 41.5 5.7 24.7 11.1 6.0 0.9 45.1 5.8 26.8 12.5 6.4 0.9 48.4 6.0 41.4 1.1 6.6 1.0 50.7 5.9 47.9 -3.1 7.4 0.8 49.4 3.8 53.5 -7.9 8.1 1.1 47.4 3.8 58.5 -14.9 9.9 1.1 50.0 3.9 64.5 -18.4 10.4 1.4 52.7 3.9 66.2 -17.3 10.1 1.4 55.2 4.8 80.2 -29.8 12.3 1.4 68.6 5.3 100.1 -36.8 10.0 1.4 67.4 5.3 100.1 -38.0 10.3 1.4 70.4 5.7 106.2 -41.4 Trade debt Taxes payable Miscellaneous liabilities Fgn. direct invest, in US Due to affiliates Other 19 20 21 22 23 24 1 2 3 L..132 Issuers of Asset-Backed Securities (ABSs) j 2 3 4 5 6 7 8 9 329.1 111.5 94.2 84.0 3.7 6.5 103.3 8.8 11.3 346.1 110.0 109.1 95.6 4.7 8.8 107.0 8.2 11.9 358.8 104.3 122.4 105.7 5.8 10.9 110.6 9.6 11.8 374.8 96.8 141.5 123.0 5.8 12.7 114.7 9.4 12.4 391.7 91.4 153.5 132.0 6.3 15.2 121.4 11.6 13.8 407.2 94.4 162.4 137.0 6.7 18.7 120.9 15.6 13.9 422.3 98.3 172.0 145.0 7.4 19.6 120.1 17.7 14.2 443.3 102.5 186.9 158.0 8.0 20.9 124.5 16.3 13.5 473.2 107.9 198.2 164.0 8.7 25.5 130.7 21.3 15.2 493.6 113.0 213.7 177.0 9.2 27.5 128.1 23.6 15.4 494.6 104.4 222.9 179.5 11.5 31.8 129.9 22.7 14.8 500.2 Total financial assets Agency securities (1) 99.2 230.9 Mortgages (2) 182.3 Home 13.9 Multifamily Commercial 34.7 131.4 Consumer credit Loans to business 22.7 16.0 Trade credit 10 11 12 329.1 290.4 38.7 346.1 305.4 40.7 353.8 318.3 40.5 374.8 332.2 42.6 391.7 344.3 47.4 407.2 359.4 47.8 422.3 373.6 48.3 443.8 397.4 46.4 473.2 421.2 51.9 493.6 441.0 52.6 494.6 443.9 50.7 500.2 Total liabilities 445.3 Corporata oonds 54.3 Commercial paper 1 2 3 4 5 6 7 8 9 10 11 12 (1) Includes federally related mortgage pool securities backing privately issued CMOs. (2) Includes imortgages backing privately issued pool securities and privately issued CMOs. L.133 Bank Personal Trusts and Estates (3) 1 2 3 4 5 6 608.3 46.2 1.0 2.5 13.2 29.6 610.7 45.1 1.0 2.3 12.1 29.8 601.3 43.4 0.9 2.1 10.8 29.6 607.9 41.7 0.9 1.9 9.6 29.3 629.6 40.6 0.9 1.7 8.8 29.2 639.0 39.9 0.8 1.6 8.3 29.2 637.6 39.7 ' O.S 1.6 8.1 29.2 651.2 39.7 0.8 1.6 8.1 29.3 660.9 39.5 0.8 l.S 7.9 29.3 655.3 39.3 0.8 1.5 7.7 29.3 640.2 39.0 0.8 1.4 7.5 29.3 656.8 Total financial assets 38.8 Deposits 0.7 Checkable dep. and curr. 1.4 Small time and svgs.dep. 7.3 Large time deposits 29.4 Money market fund shares 7 8 9 10 11 12 13 14 223.5 73.6 40.9 32.6 39.9 30.7 4.0 25.2 225.6 73.5 40.9 32.6 91.6 32.1 4.0 24.4 227.5 72.9 40.6 32.2 92.8 34.0 4.0 23.9 229.4 72.2 40.3 31.9 94.0 35.8 3.9 23.4 231.5 72.0 40.1 31.8 96.0 36.8 3.9 22.8 233.7 72.1 40.1 31.9 98.7 37.2 3.8 22.0 236.2 72.5 40.3 32.3 102.0 36.8 3.7 21.2 238.7 73.0 40.4 32.6 105.5 36.2 3.7 20.3 240.9 73.1 40.4 32.7 108.9 35.8 3.6 19.5 243.3 72.9 40.3 32.7 112.7 35.4 3.5 18.8 244.6 72.4 40.0 32.4 115.7 34.9 3.5 18.1 245.3 71.9 39.7 32.2 118.2 34.4 3.4 17.4 Credit market instruments U.S. government securities Treasury Agency Tax-exempt securities Corporate 8 foreign bonds Mortgages Open market paper 7 8 9 10 11 12 13 14 15 16 93.6 234.2 99.5 229.1 103.2 215.6 113.0 211.7 128.1 216.9 141.5 210.5 152.7 194.8 170.6 187.1 183.5 181.0 184.4 171.4 184.2 154.2 194.8 158.6 Mutual fund shares Corporate equities 15 16 17 10.8 11.3 11.6 12.0 12.6 13.3 14.1 15.1 16.0 17.1 18.2 19.3 Miscellaneous assets 17 (3) Includes personal trusts and estates administered by nondeposit noninsured trust companies. BILLIONS OF DOLLARS, END OF PERIOD. 1 2 3 4 5 6 DECEMBER 7, 1994 Monetary and Insuranoe Reserves 101 Monetary and Insurance Reserves L.200-L.202 Foreign Exchange, Treasury Currency, and Insurance Reserves LEVELS, 1979-1990 LEVELS, 1979-1990 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 L.200 Gold and Official Foreign Exchange Holdings (11 1 Total U.S. reserves 19.0 26.8 30.1 34.0 33.7 34.9 43.2 48.5 45.8 47.8 74.6 83.3 1 2 U.S. gold stock and SDRs 3 U.S. govt.: Ex. Stab. Fund 4 Monetary authority (2) 13.9 2.7 11.2 13.8 2.6 11.2 15.2 4.1 11.2 16.4 5.3 11.1 16.1 5.0 11.1 16.7 5.6 11.1 18.4 7.3 11.1 19.5 8.4 11.1 21.4 10.3 11.1 20.7 9.6 11.1 21.0 10.0 11.1 22.0 11.0 11.1 2 3 4 5.1 3.8 1.3 2.5 13.0 10.1 5.0 5.1 14.8 9.8 4.6 5.1 17.6 10.2 4.4 5.8 17.6 6.3 2.6 3.7 18.2 6.7 3.1 3.6 24.8 12.9 5.8 7.0 29.1 17.3 7.9 9.5 24.4 13.1 7.4 5.7 27.1 17.4 8.2 9.1 53.6 44.6 12.7 31.9 61.3 52.2 19.6 32.6 5 6 7 8 1.3 1.3 X 2.9 2.9 -.1 5.1 5.1 x 7.3 7.4 e 11.3 11.4 N 11.5 11.6 -.1 12.0 12.0 X 11.7 11.8 -.1 11.3 11.4 -.1 9.7 9.8 -.1 9.0 9.1 -.1 5 U.S. foreign exchange position 6 Official fgn.currency hldgs. Treasury 7 Monetary authority 8 9 10 11 Net IMF position U.S. government Monetary authority 9.1 9 9.1 10 -.1 11 (1) Lines 1, 2, and 3 include increases in SDRs through allocations, which have occurred at various dates beginning January 1970. Also included in the table are revaluations of foreign currency holdings, gold, SDRs, and IMF position. These allocations and revaluations are excluded from tables on flows. (2) Treasury gold stock. L.201 SDR Certificates and Treasury Currency SDR certificates: 1 Liab.: U.S. government 2 Asset: Monetary authority 1.8 1.8 2.5 2.5 3.3 3.3 4.6 4.6 4.6 4.6 4.6 4.6 4.7 4.7 5.0 5.0 5.0 5.0 5.0 5.0 8.5 8.5 10.0 10.0 1 2 Treasury currency: U.S. government 3 Liab.: 4 Asset: Monetary authority 5 Discrepancy (seigniorage) 10.5 13.1 -2.6 11.1 13.8 -2.8 11.5 14.5 -3.0 11.9 15.0 -3.2 12.3 15.7 -3.4 12.9 16.4 -3.5 13.3 17.1 -3.8 13.8 17.6 -3.8 14.2 18.2 -4.0 14.7 18.8 -4.1 15.3 19.6 -4.3 16.3 20.4 -4.1 3 4 5 L.202 Insurance and -Pension Fund Reserves Life insurance reserves: 1 Total liabilities U.S. government 2 Life insurance companies 3 206.7 9.0 197.7 216.4 9.1 207.4 225.6 9.3 216.3 232.8 9.5 223.3 240.8 9.7 231.1 246.0 9.9 236.1 256.7 10.2 246.5 274.2 10.5 263.7 300.3 10.8 289.5 325.5 11.1 314.4 354.3 11.5 342.8 380.0 11.8 368.1 I 2 3 4 Total assets (households) 206.7 216.4 225.6 232.8 240.8 246.0 256.7 274.2 300.3 325.5 354.3 380.0 4 5 Total liabilities 6 U.S. government 7 Insurance sector 8 Life insurance companies 9 Private pension funds 10 St.Sloc. govt. rtr. funds 792.0 67.7 724.3 143.5 413.1 167.7 949.3 76.4 872.9 172.0 504.4 196.6 1039.0 86.2 952.8 199.8 530.2 222.8 1261.1 97.9 1163.1 242.9 659.4 260.9 1499.6 112.0 1387.6 281.7 800.5 305.4 1669.8 130.0 1539.8 328.3 361.1 350.3 2032.2 148.8 1883.4 391.7 1093.0 398.7 2411.1 169.6 2241.6 474.2 1290.8 476.5 2616.2 188.4 2427.8 536.9 1367.0 523.9 2860.7 208.1 2652.7 621.9 1421.8 609.0 3400.9 228.9 3172.0 699.7 1705.6 766.7 3484.2 5 250.5 6 3233.6 7 784.1 8 1629.1 9 820.4 10 11 Total assets (households) 792.0 949.3 1039.0 1261.1 1499.6 1669.8 2032.2 2411.1 2616.2 2860.7 3400.9 3484.2 11 Pension fund reserves: BILLIONS OF DOLLARS, END OF PERIOD DECEMBER 7, 1994 Monetary and Insurance Reserves Monetary and Insurance Reserves 102 L.200-L.202 Foreign Exchange, Treasury Currency, and Insurance Reserves LEVELS, 1991-1994 LEVELS , 1991-1994 1992 1991 1 IV I I III II IV 11 11 1993 I II III IV | 1 I 1994 II Ill L.200 Gold and Official Foreign Exchange Holdings (1) 1 77.7 74.7 77.1 78.5 71.3 74.4 74.0 75.8 73.4 76.8 75.7 76.5 Total U.S. reserves 1 2 3 4 22.3 11.2 11.1 22.0 10.9 11.1 22.7 11.6 ll.l 23.2 12.1 11.1 19.6 8.5 11.1 19.8 8.8 11.1 20.0 9.0 11.1 20.3 9.2 11.1 20.1 9.0 11.1 20.4 9.4 11.1 20.8 9.7 11.1 21.0 U.S. gold stock and SDRs U.S. govt.: Ex. Stab. Fund 10.0 Monetary authority 12) 11.1 2 3 4 5 6 7 8 55.4 45.9 18.3 27.6 52.7 43.7 17.6 26.1 54.4 45.1 20.6 24.5 55.4 45.6 21.1 24.4 51.8 40.0 18.5 21.5 54.5 42.4 20.0 22.3 53.9 42.0 19.7 22.3 55.6 43.5 20.2 23.3 53.4 41.5 19.2 22.3 56.4 44.2 20.9 23.3 54.9 42.8 20.4 22.4 55.5 U.S. foreign exchange position Official fgn.currency hldgs. 43.4 Treasury 20.2 Monetary authority 23.2 5 6 7 8 9 10 11 9.5 9.6 -.1 9.0 9.1 -.1 9.4 9.5 -.1 9.8 9.9 -.1 11.8 11.9 -.1 12.2 12.3 -.1 11.9 12.0 -.1 12.1 12.2 -.1 11.8 11.9 -.1 12.1 12.2 -.1 12.2 12.3 -.1 12.1 12.2 -.1 Net IMF position U.S. government Monetary authority 9 10 11 (1) Lines 1, 2, and 3 include increases in SDRs through allocations, which have occurred at various d ates beginning .January 1970. Also included in the table are revaluations of foreign currency holdings, gold, SDRs, These allocations and irevaluations are excluded and IMF position. from tables on flows. (2) Treasury gold stock. L.201 SDR Certificates and Treasury Currency 1 2 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 SDR certificates: 8.0 Liab.: U.S. government 8.0 Asset: Monetary authority 1 2 3 4 5 16.3 21.1 -4.8 16.3 21.1 -4.8 16.4 21.3 -4.9 16.4 21.3 -4.9 16.5 21.5 -4.9 16.6 21.6 -5.0 16.7 21.7 -5.0 16.8 21.9 -5.1 17.0 22.1 -5.1 17.1 22.3 -5.2 17.3 22.5 -5.2 Treasury currency: 17.5 Liab.: U.S. government Monetary authority 22.7 Asset: -5.3 Discrepancy (seigniorage) 3 4 5 L.202 Insurance and Pension Fund Reserves Life insurance reserves: 1 2 3 405.7 11.9 393.8 413.1 11.9 401.3 417.0 11.8 405.3 426.4 11.6 414.8 433.0 11.5 421.5 442.6 11.4 431.2 451.4 11.2 440.2 463.1 11.1 452.0 468.2 11.0 457.2 473.2 10.9 462.3 475.2 10.9 464.4 481.2 Total liabilities 10.8 U.S. government 470.4 Life insurance companies 1 2 3 4 405.7 413.1 417.0 426.4 433.0 442.6 451.4 463.1 463.2 473.2 475.2 481.2 Total assets (households) 4 5 6 7 8 9 10 4138.3 276.0 3862.3 865.2 2055.9 941.2 4141.3 271.5 3870.3 380.5 2019.6 970.2 4207.8 278.5 3929.3 900.0 2050.9 978.4 4353.1 296.0 4057.2 918.0 2114.6 1024.6 4516.5 303.5 4213.0 940.5 2213.8 1058.3 4652.7 298.5 4354.2 962.9 2314.3 1077.0 4710.4 305.9 4404.5 992.8 2343.9 1067.3 4869.4 323.7 4545.7 1022.2 2428.2 1095.3 4945.1 331.1 4614.0 1042.5 2449.8 1121.6 4890.7 326.1 4564.7 1061.5 2365.0 1138.2 4380.8 333.3 4547.5 1075.0 2333.6 1138.9 5016.8 Total liabilities 351.1 U.S. government 4665.7 Insurance sector 1092.6 Life insurance companies 2389.3 Private pension funds 1183.7 St.Sloc. govt. rtr. funds 5 6 7 8 9 10 11 4138.3 4141.3 4207.8 4353.1 4516.5 4652.7 4710.4 4369.4 4945.1 4890.7 4880.8 5016.3 Total assets (households) 11 Pension fund reserves: BILLIONS OF DOLLARS, END OF PERIOD. DECEMBER 7, 1994 Interbank Claims Interbank Claims L.203 Net Interbank Claims 1Q3 LEVELS, 1979-1990 LEVELS, 1979-1990 1979 1 Total liabilities 2 Monetary authority 3 Depository inst. reserves 4 Vault cash 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 57.7 48.3 29.8 18.5 24.7 47.3 27.5 19.8 -25.9 43.9 25.2 18.6 -31.1 46.0 26.5 19.5 -32.8 42.4 21.4 21.0 -19.9 46.1 21.8 24.2 9.0 54.2 28.6 25.5 36.9 73.8 48.1 25.7 72.5 66.6 41.8 24.9 77.1 66.9 39.3 27.6 62.5 64.2 35.6 28.7 95.3 71.2 38.7 32.6 1 2 3 4 5 6 7 3 9 10 11 Commercial banking To monetary authority To bks.in fgn .entries,net Liabilities, net U.S.-chartered banks Due to fgn. affil. -Due from fgn. affil. 9.4 8.2 9.5 16.8 -2.9 25.9 28.8 -22.5 6.3 -17.1 -4.4 -23.1 20.2 43.3 -69.7 3.4 -55.8 -40.0 -24.9 25.9 50.8 -77.1 3.5 -62.5 -38.9 -11.7 23.2 34.9 -75.2 2.5 -50.3 -28.6 -5.3 31.6 36.9 -65.9 4.4 -47.5 -28.8 -11.1 32.5 43.6 -45.1 4.0 -30.9 -16.9 -2.6 42.8 45.5 -36.8 2.3 -15.2 -2.2 -6.2 37.8 44.0 5.8 4.6 29.3 40.2 10.0 49.3 39.8 10.1 3.5 35.2 45.7 12.3 61.9 49.6 -1.7 1.6 27.7 36.3 4.3 52.2 47.9 24.0 5 2.8 6 53.3 7 61.5 8 21.0 9 67.1 10 46.1 11 12 13 14 Bank holding companies Due to fgn. affil. -Due from fgn. affil. -1.9 1.0 2.9 -4.0 1.8 5,9 -10.2 2.9 13.0 -12.3 3.2 15.5 -15.5 3.9 19.3 -16.1 4.6 20.7 -16.6 3.5 20.1 -15.3 4.7 20.0 -11.8 5.6 17.4 -10.1 10.3 20.4 -8.3 8.1 16.4 -7.9 12 8.6 13 16.5 14 15 16 17 Fgn. bkg. off. in U.S. Due to fgn. affil. -Due from fgn. affil. 21.5 46.9 25.4 22.7 60.4 37.7 -5.0 37.5 42.5 -14.9 31.2 46.1 -7.9 36.4 44.3 -1.6 35.6 37.2 2.3 43.0 40.6 19.2 61.6 42.4 42.0 74.7 32.7 43.5 75.0 31.4 40.3 61.8 21.5 48.4 15 69.6 16 21.3 17 13 19 20 Less: Dep. at fgn. banks U.S.-chartered banks Fgn. bkg. off. in U.S. 7.3 3.9 3.4 12.7 7.3 5.4 15.7 10.7 5.0 23.5 20.5 3.0 21.7 19.3 2.4 18.7 14.6 4.1 14.0 12.6 1.4 12.9 11.6 1.3 10.9 9.7 1.2 10.5 9.6 1.0 8.6 7.2 1.4 8.2 18 6.5 19 1.7 20 21 22 23 24 25 26 -8.3 -13.9 35.4 7.6 36.1 -8.3 -11.7 -33.1 33.1 9.4 40.5 -11.7 -17.3 -46.5 37.6 14.0 40.9 -17.3 -18.1 -48.1 31.4 15.7 33.7 -18.1 -27.4 -46.6 27.1 22.4 32.1 -27.4 -22.9 -43.0 26.0 19.9 28.9 -22.9 -18.3 -45.5 32.1 20.2 30.2 -18.3 -24.5 -49.7 33.5 20.4 37.5 -24.5 -28.1 -47.2 37.0 18.5 46.6 -28.1 -28.5 -44.5 43.9 18.8 53.6 -28.5 -31.0 -56.5 49.4 18.9 61.5 -31.0 -32.0 -69.0 39.3 4.6 66.7 -32.0 27 23 To U.S. banking, net U.S.-chartered banks Liabilities To bank holding cos. To fgn. off. in U.S. Unallocated Less, due from: Fgn. offices in U.S. Bank holding cos. 48.7 5.6 63.8 7.4 77.2 6.9 72.4 ’ 7.1 66.9 6.7 62.3 6.8 68.6 9.0 74.7 8.5 75.8 8.3 85.1 3.3 101.4 4.6 107.1 27 1.2 28 29 30 31 Bank holding companies Due to U.S. banks -Due from U.S. banks -2.0 5.6 7.6 -1.9 7.4 9.4 -7.1 6.9 14.0 -8.6 7.1 15.7 -15.7 6.7 22.4 -13.2 6.8 19.9 -11.2 9.0 20.2 -11.9 8.5 20.4 -10.2 8.3 18.5 -15,5 3.3 18.8 -14.3 4.6 18.9 -3.4 29 1.2 30 4.6 31 32 33 34 Fgn. bkg. off. in U.S. Due to U.S. banks -Due from U.S. banks 12.6 48.7 36.1 23.3 63.3 40.5 36.3 77.2 40.9 38.6 72.4 33.7 34.9 66.9 32.1 33.3 62.3 28.9 38.4 68.6 30.2 37.2 74.7 37.5 29.2 75.3 46.6 31.5 85.1 53.6 39.9 101.4 61.5 40.3 32 107.1 33 66.7 34 35 Total assets 36 Rest of tne world Domestic 37 38 Monetary authority 39 Federal Reserve float 40 Loans to member banks 66.0 9.5 56.5 8.2 6.3 1.5 36.4 -17.1 53.5 6.3 4.5 1.3 -8.5 -55.3 47.2 3.4 1.3 1.6 -13.0 -62.5 49.5 3.5 2.7 0.7 -5.4 -50.3 44.9 2.5 1.6 0.9 3.0 -47.5 50.5 4.4 0.9 3.6 27.4 -30.9 58.2 4.0 1.0 3.1 61.4 -15.2 76.6 2.8 1.3 1.6 100.6 29.3 71.3 4.6 0.8 3.8 105.6 35.2 70.4 3.5 1.3 2.2 93.5 27.7 65.8 1.6 1.1 0.5 41 42 43 Commercial banking Reserves at F.R. Vault cash 48.3 29.3 18.5 47.2 27.4 19.8 43.7 25.1 18.6 45.6 26.1 19.5 41.1 20.1 21.0 43.8 19.6 24.2 50.3 24.7 25.5 68.1 42.5 25.7 61.7 36.9 24.9 61.6 34.0 27.6 59.7 31.1 28.7 44 Thrifts: Reserves at F.R. 45 Discrepancy--floats, etc. BILLIONS OF DOLLARS, END OF PERIOD. -8.3 X -11.7 127.3 53.3 74.0 2.8 2.6 0.2 21 22 23 24 25 26 35 36 37 38 39 40 67.9 41 35.3 42 32.6 43 0.1 0.4 1.4 2.2 3.9 5.6 4.9 5.3 4.5 3.4 44 -17.3 -18.1 -27.4 -22.9 -18.3 -24.5 -28.1 -28.5 -31.0 -32.0 45 DECEMBER 7, 1994 Interbank Claims Interbank Claims 104 L.203 Net Interbank Claims LEVELS, 1991-im LEVELS, 1991-1994 1991 I IV J 1992 I II III IV I 1 1993 I II III IV I 1 I 1994 II III 1 2 3 4 1 2 3 4 96.4 63.0 29.4 33.6 79.4 58.8 29.5 29.3 90.3 52.4 22.7 29.7 120.9 57.9 27.7 30.2 132.8 63.9 32.1 31.9 135.7 65.1 34.5 30.6 144.3 59.9 27.7 32.2 165.4 61.7 29.9 31.7 175.2 67.6 35.0 32.7 201.6 67.2 35.7 31.4 223.9 67.8 33.4 34.4 238.9 Total liabilities Monetary authority 61.3 Depository inst. reserves 30.1 Vault cash 31.3 5 6 7 8 9 10 11 33.4 1.2 36.3 47.3 15.3 74.5 59.2 20.6 0.6 21.8 33.1 -9.8 115.7 125.6 37.8 1.2 40.6 50.7 -14.4 110.8 125.2 63.0 0.4 67.6 77.4 -5.7 98.5 104.2 68.8 3.9 74.2 83.5 -16.9 93.8 110.7 70.6 1.1 75.3 83.7 -11.0 98.9 109.9 84.4 1.8 88.3 96.8 -ll.O 96.4 107.4 103.7 3.8 107.7 116.2 -7.3 96.9 104.2 107.5 1.0 111.3 121.3 -5.6 93.2 98.9 134.4 0.9 141.2 151.1 13.0 106.1 93.0 156.1 1.6 161.9 169.8 30.7 122.1 91.3 177.6 0.7 180.4 188.9 46.1 125.5 79.4 5 Commercial banking To monetary authority 6 To bks.in fgn.entries,net 7 8 Liabilities, net U.S.-chartered banks 9 Due to fgn. affil. 10 -Due from fgn. affil. 11 12 13 14 -10.7 7.9 18.5 -15.0 7.6 22.6 -10.7 8.1 18.8 -8.5 8.4 16.8 -4.7 8.9 13.5 -10.5 8.8 19.3 -6.0 7.4 13.4 -8.0 7.2 15.2 -8.2 5.1 13.3 -8.8 5.4 14.2 -13.5 5.5 19.0 -10.3 5.8 16.1 Bank holding companies 12 Due to fgn. affil. 13 -Due from fgn. affil. 14 15 15 17 42.7 75.1 32.4 57.9 77.5 19.6 75.8 81.1 5.3 91.6 80.6 -11.0 105.0 84.6 -20.4 105.2 79.2 -25.9 113.8 79.3 -34.5 131.5 82.8 -48.7 135.1 83.0 -52.0 146.9 95.2 -51.7 152.6 90.7 -61.9 153.1 88.1 -65.0 Fgn. bkg. off. in U.S. 15 Due to fgn. affil. 16 -Due from fgn. affil. 17 18 19 20 11.0 9.4 1.6 11.2 9.8 1.4 10.1 8.2 1.8 9.8 7.6 2.2 9.3 7.7 1.6 8.4 6.5 1.9 8.6 6.5 2.1 8.4 7.2 1.2 10.0 8.4 1.6 9.8 8.5 1.4 7.9 6.4 1.5 8.5 7.2 1.3 Less: Dep. at fgn. banks 18 U.S.-chartered banks 19 Fgn. bkg. off. in U.S. 20 21 22 23 24 25 26 -4.2 -47.9 49.4 2.4 51.2 -4.2 -1.8 -45.7 47.9 3.7 45.9 -1 .8 -4.0 -42.1 49.7 2.8 50.9 -4.0 -5.0 -31.6 49.4 2.4 52.0 -5.0 -9.3 -33.6 38.5 1.4 46.4 -9.3 -5.8 -30.2 40.1 1.0 44.8 -5.8 -5.7 -30.5 43.1 1.3 47.5 -5.7 -7.8 -23.9 41.6 2.0 47.4 -7.8 -4.7 -21.4 44.8 1.3 48.2 -4.7 -7.7 -27.9 36.1 1.0 42.9 -7.7 -7.4 -21.4 43.9 1.0 50.3 -7.4 -3.5 -14.0 46.3 1.1 48.7 -3.5 27 28 99.0 -1.7 95.5 -2.0 94.6 -2.8 84.2 -3.2 77.2 -5.1 75.3 -5.1 77.2 -3.6 68.4 * -2.9 66.7 -.5 64.7 -.6 64.6 0.8 59.8 0.5 29 30 31 -4.1 -1.7 2.4 -5.7 -2.0 3.7 -5.6 -2.8 2.8 -5.6 -3.2 2.4 -6.5 -5.1 1.4 -6.1 -5.1 1.0 -4.9 -3.6 1.3 -4.9 -2.9 2.0 -1.8 -.5 1.3 -1.6 -.6 1.0 -.3 0.8 1.0 32 33 34 47.8 99.0 51.2 49.6 95.5 45.9 43.7 94.6 50.9 32.2 84.2 52.0 30.8 77.2 46.4 30.4 75.3 44.8 29.7 77.2 47.5 21.0 68.4 47.4 18.5 66.7 48.2 21.8 64.7 42.9 14.3 64.6 50.3 35 36 37 38 39 40 100.5 36.3 64.3 1.2 1.0 0.2 31.2 21.8 59.4 0.6 0.5 0.1 94.3 40.6 53.6 1.2 -.2 1.4 125.9 67.6 58.2 0.4 -.2 0.6 142.1 74.2 67.9 3.9 3.3 0.7 141.5 75.3 66.2 1.1 0.3 0.8 150.0 88.3 61.7 1.8 0.2 1.5 173.2 107.7 65.5 3.8 0.9 2.9 179.9 111.3 68.6 1.0 0.9 0.1 209.3 141.2 68.1 0.9 0.4 0.5 231.3 161.9 69.4 1.6 0.9 0.7 41 42 43 60.1 26.5 33.6 55.7 26.4 29.3 49.8 20.1 29.7 55.1 24.9 30.2 60.9 29.0 31.9 62.2 31.7 30.6 56.7 24.5 32.2 58.5 26.7 31.7 64.2 31 .5 32.7 64.0 32.5 31.4 64.6 30.2 34.4 44 2.9 3.1 2.6 2.8 3.1 2.8 3.2 3.2 3.4 3.2 3.2 45 -4.2 -1.8 -4.0 -5.0 -9.3 -5.8 -5.7 -7.8 -4.7 -7.7 -7.4 BILLIONS OF DOLLARS, END OF PERIOD. To U.S. banking, net U.S.-chartered banks Liabilities To bank holding cos. To fgn. off. in U.S. Unallocated Less, due from: Fgn. offices in U.S. Bank holding cos. 21 22 23 24 25 26 -.5 0.5 1.1 Bank holding companies Due to U.S. banks -Due from U.S. banks 29 30 31 11.0 59.8 48.7 Fgn. bkg. off. in U.S. Due to U.S. banks -Due from U.S. banks 32 33 34 242.4 Total assets 180.4 Rest of the world 62.0 Domestic 0.7 Monetary authority Federal Reserve float 0.2 Loans to member banks 0.5 58.4 27.1 31.3 2.9 27 28 35 36 37 38 39 40 Commercial banking Reserves at F.R. Vault cash 41 42 43 Thrifts: Reserves at F.R. 44 -3.5 Discrepancy--floats, etc. 45 DECEMBER 7, 1994 Deposits Deposits 105 L.204-L.206 Deposits LEVELS, 1979-1990 LEVELS, 1979-1990 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 L.204 Checkable Deposits and Currency 455.8 477.5 505.6 543.3 582.8 629.7 713.5 837.9 841.9 884.6 891.0 934.2 1 2 3 4 5 Monetary authority U.S. govt, cash a deposits Deposits due to foreign Currency outside banks 112.5 4.6 0.8 107.1 121.5 3.5 0.5 117.5 132.4 4.7 0.7 126.9 142.5 5.5 0.4 136.6 155.5 4.1 0.5 150.9 165.8 5.8 0.4 159.6 182.4 9.9 0.5 171.9 194.7 8.0 0.4 186.3 211.4 5.8 0.3 205.4 229.5 9.1 0.4 220.1 239.1 6.7 0.6 231.8 264.3 9.5 0.4 254.4 2 3 4 5 6 7 8 9 Commercial banking U.S. government deposits Deposits due to foreign Private domestic deposits 338.0 14.5 22.7 300.9 347.8 11.9 22.9 312.9 356.5 10.8 19.0 326.7 375.8 16.9 15.6 343.3 390.8 11.5 17.0 362.3 419.5 15.5 19.3 384.7 473.7 25.8 20.6 427.3 568.2 27.5 23.5 517.3 548.5 21.6 22.1 504.7 565.6 29.0 21.6 515.1 562.3 25.6 21.9 514.8 583.6 30.9 21.8 530.9 6 7 8 9 5.4 3.9 1.5 8.3 5.0 3.3 16.7 12.8 3.9 25.0 19.3 5.7 36.5 28.5 8.0 44.4 34.9 9.5 57.4 44.8 12.6 74.9 61.9 13.0 81.9 67.2 14.7 39,5 74.0 15.5 89.6 72.8 16.8 66.3 10 68.0 11 18.3 12 455.8 477.5 505.6 543.3 582.8 629.7 713.5 837.9 841.9 384.6 891.0 934.2 13 253.1 85.9 7.3 28.3 50.3 13.0 19.2 23.4 264.1 95.5 7.4 31.1 57.1 12.4 16.2 23.5 298.1 88.2 7.6 33.3 47.4 11.0 17.4 19.7 319.1 99.8 7.8 36.8 55.3 9.4 24.5 16.0 332.4 129.1 8.1 45.0 76.0 8.7 16.4 17.5 331.4 163.3 8.3 49.8 105.1 13.8 21.8 19.7 348.3 201.9 9.0 61.3 131.6 14.3 34.0 21.2 436.1 231.0 10.1 67.3 153.6 17.3 32.8 23.9 431.4 252.1 9.9 69.8 172.4 16.5 21.4 22.5 449.3 258.8 10.4 77.5 170.9 19.5 32.1 22.0 443.3 277.0 10.5 81.8 184.8 19.9 26.1 22.5 448.8 285.1 10.9 81.3 192.9 18.9 25.4 22.2 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 1 Total liabilities 10 11 12 Thrift institutions Savings institutions Credit unions 13 Total assets 14 15 16 17 18 19 20 21 Household sector Nonfinancial business Farm Nonfarm noncorporate Corporate State 8 local governments U.S. government Rest of the world 22 23 24 25 26 27 28 29 30 31 32 33 34 35 Financial sectors Govt.-spons. enterprises Commercial banking Savings institutions Credit unions Life insurance companies Other insurance companies Private pension funds St.Sloc. govt. rtr. funds Finance companies Mutual funds Money market mutual funds Brokers and dealers Bank personal trusts 30.1 0.5 2.4 5.2 1.1 2.7 2.9 5.1 0.6 4.6 0.7 0.1 2.2 2.1 33.1 0.5 2.8 6.8 1.2 3.2 2.9 4.2 0.6 4.7 0.8 0.2 3.0 2.1 35.5 0.7 2.9 8.8 1.6 4.3 3.0 3.4 0.6 4.8 0.8 -.5 2.8 2.2 40.9 0.6 3.4 11.6 1 .8 4.6 3.0 2.3 1.0 4.9 1.2 0.3 4.5 1.8 41.1 0.8 3.6 12.4 2.2 4.0 2.6 2.7 1.4 5.1 1.7 -.3 3.6 1.3 43.8 1.3 4.1 11.2 2.6 4.6 3.1 3,3 2.0 5.2 2.1 -1.2 3.9 1.6 54.4 2.1 4.5 12.0 3.3 5.1 4.3 4.0 2.4 5.5 3.8 0.2 6.3 0.9 65.8 3.7 4.4 12.5 4.0 5.8 5.6 4.3 3.15.9 6.5 X 8.5 1.7 63.2 3.6 3.6 10.2 4.0 4.9 5.5 5.0 4.3 6.5 6.9 -.3 7.4 1.0 67.3 3.6 3.0 12.1 4.2 4.6 5.4 4.6 4.4 7.3 7.2 0.7 9.4 1.0 68.5 2.3 2.6 11.3 4.3 5.0 6.0 5.3 3.2 8.3 8.5 0.1 9.8 0.9 33.0 2.1 2.5 11.0 4.8 4.9 6.5 5.3 4.7 9.4 8.7 11.4 10.2 1.0 36 Mail float 31.0 32.7 35.7 33.5 37.5 36.0 39.0 31.0 34.3 35.5 33.6 50.9 36 L.205 Small Time and Savings Deposits 1 Total liaoilities 1070.2 1154.1 1204.3 1342.9 1559.6 1710.8 1853.4 1978.7 2048.5 2187.8 2285.5 2349.2 1 2 3 4 5 Commercial banking U.S.-chartered banks Foreign banking off. in US Banks in U.S.-aff. areas 433.9 428.8 2.3 2.8 479.9 473.6 3.1 3.2 522.1 513.7 4.0 4.4 620.1 611.4 4.1 4.5 750.9 742.2 3.3 5.4 826.0 816.8 3.8 5.4 907.9 897.2 4.9 5.8 982.1 968.7 7.1 6.3 1010.0 996.1 7.8 6.2 1084.0 1069.2 8.3 6.4 1184.7 1165.7 12.0 7.0 1307.6 1287.5 11.0 9.1 2 3 4 5 6 7 8 Thrift institutions Savings institutions Credit unions 636.3 580.6 55.7 674.2 616.2 57.9 681.9 621.7 60.2 722.8 654.5 68.4 808.6 727.6 81.0 884.7 792.5 92.3 945.6 833.9 111.7 996.5 358.7 137.8 1038.5 839.3 149.2 1133.8 943.4 160.5 1100.3 936.2 164.7 1041.6 362.5 179.1 6 7 8 1070.2 1154.1 1204.0 1342.9 1559-6 1710.8 1853.4 1978.7 2048.5 2187.8 2285.5 2349.2 9 1015.1 21.1 12.8 8.3 3.8 1.0 4.2 24.1 0.9 1091.2 23.9 14.5 9.4 3.4 0.8 5.7 28.1 1.0 1127.1 32.7 20.8 11.9 3.5 0.7 6.5 32.6 1.0 1248.9 37.5 22.8 14.7 5.0 1.1 11.4 37.9 1.1 1436.1 48.6 31.0 17.5 10.3 0.7 14.6 48.0 1.3 1574.2 57.5 39.0 18.5 7.7 1.2 13.9 54.3 1.4 1639.5 65.9 46.0 19.9 2.4 1.2 19.1 73.5 1.8 1783.9 73.9 52.7 21.2 2.6 1.4 25.7 38.9 2.2 1829.1 73.5 51.6 21.9 11.3 1.7 25.9 103.3 2.7 1939.5 81.6 57.2 24.4 19.0 1.4 23.2 120.0 3.1 2002.4 36.3 62.3 23.9 28.9 1.3 19.6 143.8 3.2 2063.7 85.3 62.8 23.0 36.2 1.4 19.7 134.0 3.3 10 11 12 13 14 15 16 17 18 9 Total assets 10 11 12 13 14 15 16 17 18 Household sector Nonfinancial business Nonfarm noncorporate Corporate State and local governments U.S. government Credit unions private pension funds Bank personal trusts L.206 Large Time Deposits (1) 1 Total liabilities 257.4 316.9 378.6 395.8 384.6 471.4 488.5 492.1 541.9 595.1 613.0 546.9 1 2 3 4 5 Commercial banking U.S.-chartered banks Foreign banking off. in US Banks in U.S.-aff. areas 225.6 204.5 18.3 2.8 272.3 243.8 25.3 3.2 324.3 287.7 32.1 4.4 329.9 289.6 35.3 4.5 283.3 250.8 27.1 5.4 321.1 284.7 31.0 5.4 332.1 295.6 30.7 5.8 333.6 289.0 38.3 6.3 375.0 326.7 42.1 6.2 416.3 361.9 48.4 6.4 445.7 335.3 52.9 7.0 423.6 365.4 49.2 9.1 2 3 4 5 6 7 8 Thrift institutions Savings institutions Credit unions 31.8 31.6 0.3 44,6 44.1 0.5 54.3 53.8 0.6 65.9 65.2 0.7 101.2 100.5 0.7 150.3 149.5 0.8 156.5 155.3 1.2 158.6 156.7 1.8 167.0 164.9 2. 1 178.3 175.9 2.5 167.3 161.7 5.5 123.3 119.9 3.4 6 7 8 9 Total assets 257.4 316.9 378.6 395.8 384.6 471.4 488.5 492.1 541.9 595.1 613.0 546.9 9 10 11 12 13 14 15 Household sector Nonfinancial business Nonfarm noncorporate Corporate State and local governments Rest of the world 112.7 33.6 8.5 25.1 57.0 24.6 155.2 38.1 9.7 28.5 55.4 25.8 179.0 49.8 13.9 35.9 57.6 23.1 160.2 59.6 15.2 44.4 59.9 34.9 157.7 73.3 20.7 53.1 48.3 35.4 231.4 81.9 26.0 55.9 51.1 40.0 221.7 91.0 30.6 60.4 63.5 43.7 206.1 101.4 35.1 66.3 65.6 41.0 247.9 104.1 34.4 69.7 63.5 42.0 230.9 119.3 38.1 81.2 54.4 45.0 288.9 121.0 41.6 79.4 41.7 43. 1 26 0.4 118.1 41.9 76.2 31.7 42.6 10 11 12 13 14 15 16 17 18 19 20 21 22 Financial sectors Savings institutions Credit unions Private pension funds St.Slocal govt.rtr . funds Money market mutual funds Bank personal trusts 29.5 5.0 0.4 3.8 3.5 12.0 4.9 42.4 7.5 1.4 3.8 3.7 21.0 5.0 64.2 6.8 0.6 3.9 3.8 43.9 5.2 81.2 14.0 3.1 11.5 6.0 40.8 5.9 69.4 15.1 1.6 12.9 8.8 24.0 7.0 67.0 9.6 1.1 13.2 12.0 23.6 7.5 68.6 11.9 0.8 16.5 13.3 16.8 9.2 78.0 15.9 1.3 20.5 9.9 19.1 11.4 34.4 7.3 1.5 22.9 5.2 33.6 13.9 95.5 7.4 0.7 31.3 7.1 32.8 16.1 118.3 5.3 1. 7 44.2 9.1 41.2 16.8 94.1 5.2 1.9 41.6 7.4 21.0 17.0 16 17 18 19 20 21 22 (1) Large time deposits are those issued in amounts of $100,,000 or more. BILLIONS OF DOLLARS, END OF PERIOD DECEMBER 7, Deposits 1994 Deposits L.204-L.206 Deposits 106 LEVELS, 1991-1994 LEVELS, 1991-1994 1991 IV 1992 1 1 I II III IV I I 1993 I II III IV I 1 I 1994 II III L.204 Checkable Deposits and Currency 1 1020.6 993.1 1034.5 1073.0 1134.4 1089.1 1168.0 1181.9 1251.7 1220.5 1229.3 2 3 4 5 293.5 18.3 1.0 274.2 281.8 7.6 0.4 273.9 295.7 14.2 0.2 281.2 313.4 25.1 0.6 287.7 311.1 8.0 0.2 302.8 309.9 7.3 0.3 302.3 341.0 28.8 0.3 311.9 338.0 17.7 0.5 319.8 348.2 15.2 0.4 332.6 344.6 6.6 0.5 337.6 358.1 9.7 0.6 347.7 361.8 7.2 0.4 354.3 Monetary authority U.S. govt, cash 8 deposits Deposits due to foreign Currency outside banks 2 3 4 5 6 7 8 9 621.3 36.4 19.8 565.0 604.8 16.7 19.4 568.7 637.6 36.1 21.2 580.3 657.2 38.2 22.4 596.6 714.3 30.6 22.1 661.7 674.6 18.8 21.1 634.8 718.2 36.5 21.1 660.6 732.5 38.4 24.9 669.2 788.4 42.6 21.2 724.6 764.3 39.8 22.6 701.9 760.5 42.9 23.9 693.7 734.7 30.4 23.2 681.1 Commercial banking U.S. government deposits Deposits due to foreign Private domestic deposits 6 7 8 9 10 11 12 105.9 85.3 20.5 106.5 84.9 21.6 101.2 78.6 22.6 102.4 78.6 23.8 109.0 84.0 25.1 104.6 79.7 25.0 108.8 83.9 24.9 111.5 85.7 25.8 115.1 88.3 26.8 111.6 84.5 27.1 110.7 83.3 27.3 110.0 82.6 27.4 Thrift institutions Savings institutions Credit unions 13 1020.6 993.1 1034.5 1073.0 1134.4 1089.1 1168.0 1181.9 1251.7 1220.5 1229.3 14 15 16 17 IS 19 20 21 510.8 294.4 11.8 81.4 201.2 23.5 50.9 20.8 519.4 293.1 12.3 82.7 198.2 21.3 23.4 19.8 528.0 294.3 12.7 84.0 197.6 22.7 49.0 21.4 569.1 286.7 13.2 85.4 188.1 25.0 59.3 23.0 634.6 291.2 13.6 86.8 190.8 26.6 31.7 22.3 612.6 285.7 14.1 87.1 184.6 25.5 22.7 21.4 642.5 288.2 14.5 87.6 186.1 27.9 61.8 21.3 663.3 292.3 14.9 88.1 189.3 28.2 53.9 25.4 713.1 297.4 15.3 88.8 193.3 28.0 52.2 21.6 693.1 292.9 15.7 89.5 187.6 27.9 46.0 23.0 700.8 291.6 16.1 90.4 185.1 28.9 51.7 24.6 702.8 292.8 16.5 91.4 184.9 26.5 36.4 23.6 22 23 24 25 26 27 28 29 30 3-1 32 33 34 35 76.0 1.2 1.8 12.9 5.4 5.5 5.3 4.7 5.3 10.6 12.3 -.2 10.2 1.0 76.3 1.3 1.7 11.9 6.3 5.4 5.3 4.7 5.5 10.9 13.0 -.7 10.0 1.0 75.7 1.0 1.6 11.4 6.3 5.3 5.4 4.7 6.1 11.2 13.9 -2.6 10.3 0.9 73.1 0.9 1.5 9.5 6.8 5.1 5.5 4.4 5.2 11.6 14.9 -3.9 10.7 0.9 79.1 1.2 1.3 12.4 6.6 4.8 5.6 4.6 6.1 11.9 16.1 -2.7 10.3 0.9 81.1 1.0 1.2 10.6 6.5 5.3 5.5 5.0 5.6 12.0 17.6 -1.1 11.1 0.8 81.1 0.8 1.0 10.4 6.4 5.4 5.4 4.9 5.8 12.1 19.1 -2.1 10.9 0.8 82.9 1.3 0.9 11.7 6.3 5.3 5.3 4.7 5.6 12.2 20.8 -3.2 11.1 0.8 93.1 2.1 1.0 15.4 6.5 5.2 5.2 4.6 6.8 12.3 22.2 -1.2 12.3 0.8 101.0 1.7 1.2 17.0 6.8 5.4 5.1 4.0 6.9 12.4 22.9 1.8 14.8 0.8 92.0 1.6 1.5 12.6 6.7 5.3 5.1 3.6 7.0 12.5 23.1 -1.9 14.2 0.8 36 44.3 39.8 43.5 36.8 48.8 40.1 45.1 35.9 46.4 36.6 39.7 1206.5 Total liabilities 1206.5 Total assets 1 10 11 12 13 Household sector Nonfinancial business Farm Nonfarm noncorporate Corporate State 8 local governments U.S. government Rest of the world 14 15 16 17 18 19 20 21 92.7 1.6 2.0 12.4 6.3 5.3 5.1 3.5 7.0 12.6 24.2 -1.7 13.5 0.7 Financial sectors Govt.-spons. enterprises Commercial banking Savings institutions Credit unions Life insurance companies Other insurance companies Private pension funds St.Sloc. govt. rtr. funds Finance companies Mutual funds Money market mutual funds Brokers and dealers Bank personal trusts 22 23 24 25 26 27 28 29 30 31 32 33 34 35 31.8 Mail float 36 L.205 Small Time and Savings Deposits 1 2350.7 2347.9 2329.4 2304.8 2293.5 2275.7 2255.0 2236.6 2223.2 2233.8 2214.7 2198.3 Total liabilities 2 3 4 5 1386.5 1367.5 11.0 8.1 1397.4 1378.9 10.4 8.1 1390.6 1371.2 11.2 8.2 1388.0 1369.2 10.5 8.4 1389.3 1369.6 11.2 8.5 1390.6 1370.8 11.3 8.4 1385.2 1364.9 12.0 8.4 1378.5 1360.3 9.9 8.3 1377.4 1353.7 10.4 8.2 1384.4 1366.0 10.2 8.2 1377.9 1359.0 10.6 8.3 1376.7 1359.0 9.3 8.4 6 7 8 964.2 767.6 196.5 950.6 744.5 206.1 938.9 730.9 208.0 916.8 708.0 208.8 904.2 692.2 212.0 385.1 668.0 217.1 869.8 649.4 220.4 858.2 637.6 220.6 845.3 624.0 221.8 849.3 619.6 229.8 836.8 604.7 232.1 821.6 589.5 232.1 9 2350.7 2347.9 2329.4 2304.8 2293.5 2275.7 2255.0 2236.6 2223.2 2233.8 2214.7 2198.3 Total assets 10 11 12 13 14 15 16 17 18 2021.3 85.1 60.8 24.4 44.0 1.6 22.5 173.7 2.5 2018.6 84.6 60.7 23.9 44.0 1.9 23.1 173.4 2.3 1997.5 84.2 60.7 23.5 44.0 2.2 23.5 176.0 2.1 1973.2 84.3 60.6 23.7 44.6 2.2 21.7 177.1 1.9 1956.7 83.8 60.3 23.6 45.0 0.9 22.6 182.8 1.7 1930.9 83.2 59.5 23.7 44.9 0.9 23.8 190.5 1.6 1913.4 83.1 59.1 24.0 44.4 0.8 23.0 188.7 1.6 1893.5 84.1 58.7 25.4 43.4 0.8 23.4 189.9 1.6 1887.9 83.1 58.4 24.7 42.0 O.S 21.9 186.0 1.5 1911.7 83.5 58.3 25.2 40.1 0.7 21.9 174.3 1.5 1905.6 84.1 58.2 25.9 37.8 0.7 20.3 164.8 1.4 1890.7 83.7 58.3 25.5 35.1 0.7 22.0 164.7 1.4 1 Commercial banking U.S.-chartered banks Foreign banking off. in US Banks in U.S.-aff. areas 2 3 4 5 Thrift institutions Savings institutions Credit unions 6 7 8 Household sector Nonfinancial business Nonfarm noncorporate Corporate State and local governments U.S. government Credit unions Private pension funds Bank personal trusts 9 10 11 12 13 14 15 16 17 18 L.206 Large Time Deposits (1) 1 488.4 475.3 44m - 438.8 415.2 410.6 401.1 389.4 391.7 382.6 378.9 402.0 Total liabilities 1 2 3 4 5 399.6 292.3 99.3 8.1 387.6 273.3 106.2 8.1 361.9 251.7 102.0 8.2 354.7 233.6 107.7 8.4 332.8 216.1 108.2 8.5 333.0 212.3 112.3 8.4 323.1 203.2 111.5 8.4 311.7 199.7 103.7 8.3 311.7 196.1 107.4 8.2 303.5 196.2 99.0 8.2 301.0 196.0 96.7 8.3 322.9 203.0 111.5 8.4 Commercial banking U.S.-chartered banks Foreign banking off. in US Banks in U.S.-aff. areas 2 3 4 5 6 7 a 88.8 84.6 4.2 87.7 83.1 4.6 82.3 77.3 5.0 84.1 78.7 5.4 82.5 76.7 5.8 77.6 71.7 5.9 77.9 71.9 6.0 77.7 71.2 6.5 80.0 73.0 6.9 79.1 72.1 7.0 77.9 70.8 7.1 79.1 72.0 7.1 Thrift institutions Savings institutions Credit unions 6 7 8 9 488.4 475.3 444.2 438.8 415.2 410.6 401.1 389.4 391.7 382.6 378.9 402.0 Total assets 10 11 12 13 14 15 193.8 120.5 40.5 80.0 14.0 42.0 187.1 117.5 40.5 77.1 15.3 38.1 169.3 116.1 40.4 75.7 9.9 37.9 165.3 112.6 40.4 72.1 10.5 38.0 147.2 113.5 40.2 73.3 6.8 38.8 134.0 112.9 39.7 73.2 10.1 38.0 136.9 112.0 39.4 72.6 6.0 38.3 133.3 111.6 39.2 72.5 4.6 37.3 127.9 115.3 39.0 76.4 5.0 37.1 126.0 113.8 38.9 74.9 9.8 37.4 122.8 115.1 38.8 76.3 9.2 38.1 137.8 114.6 38.8 75.8 13.2 38.5 Household sector Nonfinancial business Nonfarm noncorporate Corporate State and local governments Rest of the world 10 11 12 13 14 15 16 17 18 19 20 21 22 118.1 5.0 4.2 55.4 7.3 33.0 13.2 117.2 3.9 5.6 55.2 7.0 33.5 12.1 111.0 3.5 4.2 54.8 6.7 31.1 10.8 112.5 3.6 4.4 54.7 6.1 34.0 9.6 109.0 3.7 4.3 55.8 5.5 30.9 8.8 115.6 3.4 3.2 58.7 5.8 36.2 8.3 107,8 2.9 3.2 58.8 6.6 28.3 8.1 102.5 3.3 2.3 59.0 9.5 20.4 8.1 106.4 3.0 3.8 58.6 8.0 25.0 7.9 95.5 2.8 0.8 56.0 8.1 20.1 7.7 93.6 2.0 0.2 54.0 8.2 21.7 7.5 98.0 1.4 0.1 54.5 8.3 26.3 7.3 Financial sectors Savings institutions Credit unions Private pension funds St.&local govt.rtr.funds Money market mutual funds Bank personal trusts 16 17 18 19 20 21 22 (1) Large time deposits are those issued in amounts of $100,000 or more. BILLIONS OF DOLLARS, END OF PERIOD 9 DECEMBER 7, 1994 Other Deposits and Federal Funds ■|Q7 Other Deposits and Federal Funds L.207-L.2Q9 Other Deposits, Federal Funds and Security RPs LEVELS, 1979-1990 LEVELS, 1979-1990 1979 I960 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 316.1 253.3 18.9 7.6 6.9 12.8 16.6 338.0 269.1 15.6 11.6 7.0 14.8 19.8 428.1 346.0 16.2 19.6 6.2 17.8 22.3 498.4 374.5 26.3 35.7 18.1 17.8 26.0 1 2 3 4 5 6 7 L.207 Money Market Mutual Fund Shares 1 Total assets 2 Household sector 3 Nonfin. corporate business 4 Funding corporations 5 Life insurance companies 6 Private pension funds 7 Bank personal trusts 45.2 38.3 3.0 0.6 1.0 1.2 1.2 76.4 62.1 7.0 0.6 1.9 2.6 2.2 186.2 148.1 18.4 1.0 5.6 6.6 6.5 219.8 180.5 19.0 l.l 6.7 4.7 7.8 179.4 149.3 11.2 2.6 4.8 5.9 5.6 233.6 192.6 16.1 2.7 7.0 6.9 8.3 243.8 194.9 14.5 3.4 9.1 9.1 12.8 292.1 230.6 18.1 6.0 10.0 11.0 16.4 L.208 Federal Funds and Security Repurchase iAgreements 1 Total liabilities Commercial banking (net) 2 U.S.-chartered banks 3 4 Foreign banking off. in US Bank holding companies 5 6 Savings institutions 7 REITs Brokers and dealers (net) 8 9 Total assets Nonfin. corporate business 10 State and local governments 11 Rest of the world 12 13 Financial sectors 14 Monetary authority Govt.-spons. enterprises 15 16 17 18 19 Savings institutions Credit unions Other insurance companies Money market mutual funds 20 Discrepancy-unallocated assets 92.7 94.3 94.3 8.1 -9.6 116.2 114.8 114.8 10.1 -8.7 144.6 129.6 129.6 15.3 -.3 176.7 138.8 138.8 13.5 24.3 188.6 153.6 150.1 3.5 26.6 8.4 224.1 155.2 152.0 3.2 43.4 25.5 250.6 186.4 178.8 7.6 40.4 23.7 298.7 205.6 189.6 16.1 57.5 35.6 292.7 215.8 201.4 14.4 85.7 -8.8 318.7 236.6 217.7 18.9 103.9 -21.9 396.5 274.5 253.3 21.2 K 57.8 64.2 372.3 248.8 219.7 29.6 -.4 42.5 81.0 1 2 3 4 5 6 7 8 52.7 18.8 8.8 4.1 21.0 2.4 4.2 74.9 28.4 14.0 4.4 28.1 3.3 6.0 98.0 33.4 13.2 4.4 47.0 3.7 9.5 128.6 42.1 15.6 6.0 64.9 5.8 14.9 154.1 48.4 30.9 6.7 68.2 2.0 12.6 192.9 48.8 42.8 6.8 94.5 2.0 20.9 226.6 55.8 51.0 7.5 112.3 5.2 26.9 264.7 65.3 56.5 10.9 132.0 16.0 29.4 277.1 66.1 77.2 13.1 120.6 1.3 27.2 324.1 74.3 96.9 13.0 139.9 6.9 33.8 369.5 70.3 98.8 17.2 183.3 2.1 61.8 369.3 64.3 75.1 16.7 213.2 18.4 68.7 9 10 11 12 13 14 15 12.0 2.4 12.3 0.7 5.6 16.8 2.4 0.1 14.5 20.8 3.2 * 4.1 16.2 22.6 4.3 13.7 13.0 26.3 4.6 17.9 22.8 22.1 8.4 23.6 26.1 19.9 10.9 23.7 32.2 19.0 9.2 24.6 39.3 20.2 9.4 27.9 41.7 24.2 12.5 27.8 54.9 21.6 14.6 31.0 59.0 16 17 18 19 40.0 41.3 46.6 48.0 34.4 31.2 24.0 34.0 15.6 -5.5 27.0 3.0 20 L.209 U.S. Deposits in Foreign Countries 1 Total rest of the world liability, held by: Nonfin. corporate business Money market mutual funds 2 3 BILLIONS OF DOLLARS, END OF PERIOD 26.9 31.4 41.8 55.2 147.3 144.7 153.2 184.6 196.1 218.2 262.9 304.3 1 21.8 5.1 24.6 6.8 23.0 18.8 31.5 23.8 125.4 21.9 123.4 21.2 134.1 19.0 162.4 22.2 174.4 21.6 188.5 29.7 236.6 26.4 277.3 27.1 2 3 DECEMBER 7, 1994 Other Deposits and Federal Funds Other Deposits and Federal.Funds L.207-L.209 Other Deposits, Federal Funds and Security RPs LEVELS, 1991 1 IV 1 1992 I 108 LEVELS, 1991-1994 1991-1994 II IV III I 1 1993 I II IV III I J I 1994 II III L.207 Money Market Mutual Fund Shares 1 2 3 4 5 6 7 539.6 383.3 31.5 51.5 25.0 18.8 29.6 572.0 399.5 35.6 59,0 26.4 21.6 29.8 556.9 383.7 40.4 54.7 27.7 20.9 29.6 552.9 357.5 44.8 72.1 28.9 20.3 29.3 543.6 341.4 47.3 75.0 30.3 20.3 29.2 556.6 352.7 48.0 74.0 31.8 20.9 29.2 549.8 344.2 46.7 74.3 33.4 22.1 29.2 547.9 332.7 45.1 82.4 35.0 23.4 29.3 559.4 331.2 44.8 93.1 36.7 24.3 29.3 582.4 346.7 45.5 97.5 38.5 24.9 29.3 576.4 327.2 46.9 106.3 41.4 25.3 29.3 586.1 Total assets Household sector 330.1 Nonfin. corporate.business 47.2 Funding corporations 111.0 Life Insurance companies 42.6 Private pension funds 25.8 29.4 Bank personal trusts I 2 3 4 5 6 7 L. 208 Federal Funds and Security Repurchase Agreements 1 2 3 4 5 6 7 8 355.8 229.6 192.6 38.4 -1.4 19.6 106.7 368.4 269.1 233.2 36.6 -.6 15.7 1.4 82.2 395.4 275.6 225.3 51.8 -1.5 17.7 1.9 100.3 420.0 272.0 236.3 37.1 -1.3 16.9 2.4 128.7 392.3 272.0 234.2 39.0 -1.2 18.6 2.9 98.8 446.2 296.6 264.2 33.1 -.7 21.2 3.4 124.9 450.4 298.6 263.2 36.1 -.7 22.5 4.0 125.3 472.5 319.2 288.3 30.6 -.2 24.4 4.6 124.3 457.8 313.5 279.6 34.7 -.8 26.1 5.0 113.1 472.4 340.6 308.0 32.8 -.3 28.6 5.4 97.9 510.3 364.5 328.2 37.1 -.7 34.2 5.6 105.9 534.0 Total liabilities 370.2 Commercial banking (net) 338.3 U.S.-chartered banks Foreign banking off. in US 32.6 Bank holding companies -.7 Savings institutions 39.2 5.7 REITs 118.8 Brokers and dealers (net) 1 2 3 4 5 6 7 6 9 10 11 12 13 14 15 346.6 62.8 60.2 16.6 206.9 15.9 67.6 351.9 62.1 60.4 19.5 210.0 1.8 68.8 356.0 60.2 67.2 21.8 206.8 67.5 367.8 57.0 69.5 21.1 220.2 18.2 71.8 354.2 56.4 72.0 23.5 202.3 8.1 66.6 351.3 53.5 75.7 24.0 198.0 7.3 57.3 342.4 51.1 73.9 26.8 190.6 16.0 49.6 339.9 48.4 75.7 28.2 187.7 8.4 48.6 338.6 47.2 80.9 27.7 182.9 13.2 50.3 339.4 46.8 75.4 28.3 188.9 5.5 53.9 350.0 46.6 76.0 29.2 198.2 10.6 61.8 347.7 Total assets 46.4 Nonfin. corporate business 75.3 State and local governments 33.1 Rest of the world 192.8 Financial sectors Monetary authority 2.5 66.7 Govt.-spons. enterprises 9 10 11 12 13 14 15 16 17 18 19 15.1 13.2 26.9 68.2 17.2 13.8 27.7 80.7 16.0 12.9 29.5 80.9 14.4 11.6 31.5 72.7 14.4 13.5 32.6 67.1 14.2 12.2 32.8 74.2 12.4 11.2 32.3 69.2 11.9 9.1 31.7 77.9 10.6 9.5 31.7 67.5 10.0 13.2 32.1 74.2 9.8 10.6 32.8 72.5 20 9.2 16.5 39.4 52.2 38.1 94.9 108.0 132.6 119.2 133.0 160.3 186.3 Discrepancy-unallocated assets 20 274.5 Total rest of the world liability, held by: Nonfin. corporate business 266.2 8.3 Money market mutual funds 8.6 9.3 33.6 71.9 Savings institutions Credit unions Other insurance companies Money market mutual funds 16 17 18 19 L.:209 U.S. Deposits in Foreign Countries 1 289.6 280.6 277.5 238.3 280.1 277.1 272.8 26 0.2 258.0 264.3 273.2 2 3 268.0 21.6 260.3 20.3 260.8 16.7 266.8 21.4 259.6 20.5 258.3 18.8 253.7 19.1 247.3 12.9 247.9 10.1 252.7 11.5 264.2 9.0 BILLIONS OF DOLLARS, END OF PERIOD. 1 2 3 DECEMBER 7, 1994 U.S. Government Securities 109 U.S. Government Securities L.210-L.211 Treasury Securities and Agency Securities LEVELS, 1979-1990 LEVELS, 1979-1990 1979 1980 1981 1983 1982 1984 1985 1986 1987 1988 1989 1990 L.210 Treasury Securities 1 Total liabilities 2 Savings bonds Other Treasury issuds 3 652.1 79.9 572.2 730.0 72.5 657.5 815.9 68.2 747.7 978.1 68.3 909.8 1163.4 71.5 1092.0 1360.8 74.5 1286.3 1586.6 79.8 1506.8 1802.2 93.3 1708.9 1944.6 101.1 1843.5 2082.3 109.6 1972.7 2227.0 117.7 2109.3 2465.8 126.2 2339.6 1 2 3 4 Total assets Govt.-spons. enterprises 5 Monetary authority 6 7 Rest of the world 652.1 1.2 116.3 116.0 730.0 1.7 119.3 127.4 815.9 1.9 127.7 135.5 978.1 3.4 135.6 150.7 1163.4 2.6 150.6 163.6 1360.8 3.9 159.2 200.3 1586.6 8.4 177.8 226.4 1802.2 18.6 197.6 269.4 1944.6 23.4 222.6 296.3 2082.3 29.2 233.7 353.8 2227.0 15.9 226.8 423.8 2465.8 38.0 235.1 450.3 4 5 6 7 418.6 481.6 550.8 688.4 846.8 997.4 1174.0 1316.7 1402.3 1465.6 1560.6 1742.4 8 246.3 160.1 79.9 80.3 2.8 11.9 71.5 269.6 180.7 72.5 108.2 2.6 17.0 69.3 292.4 198.3 68.2 130.1 3.3 18.5 72.4 335.2 221.6 68.3 153.2 3.2 28.7 81.7 415.1 268.3 71.5 196.8 6.0 36.7 104.1 477.7 310.8 74.5 236.3 5.5 41.0 120.4 568.0 306.2 79.8 226.4 5.8 39.9 216.1 584.6 281.2 93.3 187.8 6.9 57.2 239.2 640.4 289.7 101.1 188.6 6.5 60.9 283.2 742.4 365.6 109.6 256.1 7.0 58.3 311.5 734.7 344.6 117.7 226.9 8.4 63.9 317.7 834.9 449.4 126.2 323.2 9.4 56.0 320.1 9 10 11 12 13 14 15 8 Total private domestic 9 10 11 12 13 14 15 Nonfinancial sectors Household sector Savings bonds Other Treas. issues Nonfarm noncorp. bus. Nonfin. corp, business State and local govts. 16 17 18 19 20 Commercial banking U.S.-chartered banks Fgn. banking off. in US Bank holding companies Banks in U.S.-aff. areas 95.6 92.7 2.0 0.3 0.7 111.5 107.9 2.5 0.3 0.8 113.8 109.7 2.9 0.3 0.8 134.0 129.2 3.8 0.2 0.9 179.5 172.7 5.4 0.4 1.1 181.5 175.2 4.8 0.4 1.1 189.4 182.6 4.8 0.8 1.2 197.7 188.5 6.9 0.6 1.7 194.4 185.4 6.5 0.7 1.7 185.3 176.0 6.6 0.8 1.9 165.3 155.7 6.4 0.9 2.2 172.1 157.4 11.4 0.7 2.5 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 Nonbank financial sectors Savings institutions Credit unions Life insurance companies Other insurance cos. Private pension funds St.Slocal govt.rtr.funds Mutual funds Closed-end funds Money mkt. mutual funds Brokars and dealers Bank personal trusts 76.7 11.7 0.6 4.9 10.7 26.0 14.7 1.5 0.6 1.6 -7.0 11.4 100.4 13.2 0.9 5.8 12.2 32.2 20.9 1.9 0.6 3.5 -4.7 13.8 144.6 13.3 1.0 8.2 13.5 37.2 27.6 2.8 0.6 21.5 3.0 16.1 219.1 16.6 1.3 16.5 14,1 59.8 36.9 ' 5.1 0.6 42.6 9.2 16.4 252.2 31.9 2.7 28.6 17.4 76.1 48.9 5.7 0.6 22.8 -.5 17.9 338.1 39.7 3.7 41.2 23.3 90.6 67.9 11.5 0.5 25.4 12.1 22.1 416.7 34.5 6.2 51.7 28.8 115.3 32.9 52.9 0.6 24.6 -4.0 23.3 534.4 38.0 8.0 59.0 42.6 137.6 102.8 89.3 1.0 28.0 4.1 23.9 567.6 47.5 11.2 57.1 51.0 154.5 120.7 99.2 1.6 14.3 -16.7 27.2 537.9 34.9 14.4 58.6 60.0 164.1 123.9 81.5 4.8 11.6 -47.4 31.6 660.6 26.8 12.1 52.9 71.0 208.9 124.8 86.8 6.6 14.8 21.5 34.4 735.4 25.9 8.5 59.2 79.0 220.8 142.4 101.0 6.6 45.5 7.3 39.2 21 22 23 24 25 26 27 28 29 30 31 32 657.7 735.0 820.5 981.8 1167.0 1364.2 1589.9 1805.9 1949.8 2104.9 2251.2 2498.1 33 Memo: 33 U.S. govt, debt (I) (1) Total Treasury securities (L.210, line 1) plus budget agency securities (L.211, line 2) and federal mortgage debt (L.216, line 7). L.211 Agency Securities (2) 1 Total liabilities Budget agencies 2 3 Govt.-spons. enterprises 4 Fed. related mortgage pools 235.2 4.9 135.5 94.8 278.3 4.4 159.9 114.0 323.5 4.1 190.4 129.0 387.2 3.4 205.4 178.5 455.0 3.3 206.8 244.9 529.4 3.2 237.2 289.0 629.9 3.2 257.8 368.9 808.2 3.6 273.0 531.6 978.8 5.1 303.2 670.4 1116.0 22.6 348.1 745.3 1267.1 24.2 373.3 869.5 1445.9 32.4 393.7 1019.9 1 2 3 4 5 Total assets U.S. government 6 7 Govt.-spons. enterprises 8 Monetary authority 9 Rest of the world 235.2 O.6 8.2 6.0 278.3 0.8 8.7 8.3 323.5 1.0 9.1 9.8 387.2 0.9 8.9 9.7 455.0 0.5 8.6 9.8 529.4 0.7 8.4 10.1 629.9 0.8 8.2 14.9 808.2 0.2 7.8 22.1 978.8 0.1 7.6 26.8 1116.0 0.3 7.0 33.3 1267.1 6.2 6.5 45.5 1445.9 11.9 6.3 51.8 5 6 7 8 9 1375.9 10 220.4 260.5 303.6 367.7 436.1 510.2 505.9 778.1 944.3 1075.3 1208.8 11 12 13 14 Nonfinancial sectors Household sector Nonfin. corp, business State and local govts. 61.5 22.9 1.3 37.3 67.3 30.8 1.7 34.7 66.6 31.7 1.8 33.1 59.4 15.8 1.8 41.7 59.0 10.5 1.8 46.7 80.0 33.9 1.7 44.4 110.1 43.9 1.6 64.6 103-9 31.3 1.5 71.2 123.1 70.6 1.3 51.2 171.7 133.5 1.3 36.9 235.9 182.8 1.7 51.4 280.6 198.6 2.5 79.5 11 12 13 14 15 16 17 18 19 Commercial banking U.S.-chartered banks Fgn. banking off. in US Bank holding companies Banks in U.S.-aff. areas 52.0 50.8 0.4 0.8 - 61.8 60.5 0.4 0.9 - 71.6 70.1 Q.6 0.8 - 78.8 77.6 0.6 0.6 - 80.0 78.3 0.6 1.0 - 78.9 77.1 0.6 1.2 - 77.5 74.2 1.1 2.1 - 115.1 110.7 2.6 1.7 - 144.5 138.6 3.8 2.1 - 175.3 167.9 4.9 2.1 0.4 230.5 222.1 5.2 2.4 0.8 284.8 274.9 7.2 1.9 0.9 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Nonbank financial sectors Savings institutions Credit unions Life insurance companies Other insurance cos. Private pension funds St.Slocal govt .rtr.funds Mutual funds Money mkt. mutual funds ABS issuers Brokers and dealers Bank personal trusts 106.9 44.9 2.7 9.4 6.0 12.6 15.4 4.0 12.1 131.4 55.2 3.3 11.1 6.2 18.3 19.1 4.8 13.4 165.4 62.7 3.6 14.3 7.0 29.7 24.3 10.4 13.6 229.5 90.8 4.5 18.6 8.5 47.4 34.3 12.0 13.4 297.1 126.9 6.3 25.9 10.7 56.1 39.3 13.4 3.0 15.6 351.2 143.7 5.9 36.9 13.9 62.4 43.3 O.S 17.0 10.9 16.8 418.4 146.8 7.0 49.4 22.2 74.3 40.6 12.0 18.1 23.9 4.9 19.2 559.1 193.1 8.8 60.0 22.3 83.1 50.6 34.9 15-1 61.5 9.8 20.0 676.7 236.7 8.8 67.0 22.3 87.0 58.3 34.9 27.0 97.7 14.6 22.4 728.3 257.2 7.1 75.7 22.6 86.0 57.7 33.4 18.4 124.9 19.5 25.8 742.5 208.9 6.3 100.8 25.0 102.3 72.7 33.2 21.0 118.7 24.4 28.0 810.6 185.7 14.4 121.0 32.0 100.9 32.3 36.5 36.9 125.4 44.0 31.5 20 21 22 23 24 25 26 27 28 29 30 31 10 (2]1 Total private domestic Issues of federal budget agencies (line 2) Agency securities include: such as those for the TVA; issues of government-sponsored enterprises (line 3) such as FNMA and FHLB; and federally related mortgage-backed securities issued by GNMA, FNMA, FHLMC, and the Farmers Home Administration (line 4). Only the budget agency issues are considered officially to be part of the total debt of the U.S. government, which is shown in L.210, line 33. BILLIONS OF DOLLARS, END OF PERIOD DECEMBER 7, 1994 U.S. Government Securities U.S. Government Securities L.210-L.211 Treasury Securities and Agency Securities 110 LEVELS, 1991-1994 LEVELS, 1991-1994 1992 1991 I IV 1 I II 1993 I IV III I II I III IV I 1 I 1994 II III L.210 Treasury Securities 1 2 3 2757.8 138.1 2619.7 2844.0 142.0 2702.0 2907.4 145.4 2762.1 2980.7 150.3 2830.4 3061.6 157.3 2904.3 3120.6 163.6 2957.0 3180.6 166.5 3014.1 3222.6 169.1 3053.5 3309.9 171.9 3138.0 3361.4 175.0 3186.4 3368.0 177.1 3190.8 3403.9 Total liabilities Savings bonds 178.6 Other Treasury issues 3225.3 1 2 3 4 5 6 7 2757.8 43.7 266.5 496.6 2844.0 56.7 265.8 512.1 2907.4 54.2 276.9 533.6 2980.7 57.9 279.7 538.1 3061.6 61.9 295.0 547.8 3120.6 59.3 298.5 562.9 3180.6 63.4 313.1 567.9 3222.6 72.0 319.4 590.5 3309.9 60.4 332.0 625.0 3361.4 66.8 337.3 635.4 3368.0 70.3 347.6 ,634.0 3403.9 Total assets Govt.-spons. enterprises 70.5 353.0 Monetary authority 654.9 Rest of the world 4 5 6 7 8 1951.0 2009.4 2042.8 2105.0 2156.8 2199.9 2236.2 2240.8 2292.4 2322.0 2316.0 2325.5 9 10 11 12 13 14 15 813.8 405.8 138.1 267.7 9.3 64.5 334.3 863.8 450.3 142.0 3Q8.2 9.4 69.4 334.8 861.4 440.0 145.4 294.6 9.5 76.9 334.9 857.7 440.9 150.3 290.5 9.7 81.4 325.7 879.9 461.5 157.3 304.3 9.9 87.1 321.4 834.5 460.2 163.6 296.6 10.2 84.4 329.6 905.9 469.6 166.5 303.1 10.6 35.4 340.3 912.4 471.2 169.1 302.1 11.0 89.0 341.2 938.6 503,4 171.9 331.5 11.3 36.4 337.6 997.5 556.1 175.0 381.1 11.7 92.7 337.0 1022.2 578.3 177.1 401.1 12.0 96.8 335.1 1062.4 632.1 178.6 453.5 12.4 96.5 321.4 16 17 IB 19 20 232.5 207.8 20.8 1.0 2.8 255.9 230.2 18.7 3.9 3.1 267.0 236.0 23.6 3.9 3.5 287.5 252.7 25.3 5.5 3.9 294.4 254.3 29.6 6.1 4.3 310.2 268.2 31.8 5.5 4.7 307.2 264.5 31.7 5.9 5.1 313.9 270.8 31.9 5.6 5.5 322.2 275.0 36.1 5.3 5.8 344.9 294.0 39.2 5.8 5.9 330.8 280.5 39.6 4.8 5.8 21 22 23 24 25 26 27 28 29 30 31 32 904.7 25.0 14.1 77.8 104.0 253.9 150.8 143.1 9.7 79.6 5.7 40.9 889.7 28.2 16.4 80.3 108.1 247.6 149.2 139.5 10.3 84.5 -15.4 40.9 914.5 29.7 18.4 32.4 110.5 256.6 153.2 138.5 10.8 79.4 -5.7 40.6 959.9 29.8 19.9 86.3 108.5 267.7 153.7 163.6 11.2 79.4 -.4 40.3 982.6 34.0 19.9 88.3 108.7 271.5 155.3 182.3 11.8 79.7 -9.6 40.1 1005.3 31.2 21.2 96.1 111.9 278.9 159.2 187.3 12.4 77.7 -10.7 40.1 1023.1 31.2 22.3 101.6 116.2 279.5 165.1 192.6 13.2 75.8 -14.8 40.3 1014.5 30.3 21.8 108.7 120.7 287.9 172.6 192.7 14.0 75.2 -49.7 40.4 1031.6 28.2 22.3 110.0 124.5 286.4 171.3 208.2 14.6 80.5 -54.7 40.4 979.6 29.3 23.4 110.0 127.7 277.2 175.0 183.4 15,0 70.5 -72.1 40.3 963.1 29.5 23.8 114.2 130.6 275.4 179.7 185.4 15.4 59.5 -90.3 40.0 33 2776.4 2859.7 2923.3 2998.9 3080.3 3140.2 3201.2 3247.3 3336.5 3387.7 3395.5 Total private domestic 8 Nonfinancial sectors Household sector Savings bonds Other Treas. issues Nonfarm noncorp. bus. Nonfin. corp, business State and local govts. 9 10 11 12 13 14 15 313.1 266.1 37.4 4.0 5.6 Commercial banking U.S.-chartered banks Fgn. banking off. in US Bank holding companies Banks in U.S.-aff. areas 16 17 18 19 20 950.0 28.1 21.4 117.6 133.3 274.2 183.2 169.0 15.6 59.9 -92.0 39.7 Nonbank financial sectors Savings Institutions Credit unions Life insurance companies Other insurance cos. Private pension funds St.Slocal govt.rtr.funds Mutual funds Closed-end funds Money mkt. mutual funds Brokers and dealers Bank personal trusts 21 22 23 24 25 26 27 28 29 30 31 32 Memo: 3432.5 U.S. govt, debt (1) 33 Total Treasury securities (L.210, line 1) plus budget agency securities (L.211, line 2) and federal mortgage debt (L.216, line 7). (1) L.211 Agency Securities (2) 1 2 3 4 1577.9 18.6 402.9 1156.5 1601.2 15.8 405.7 1179.3 1652.7 15.9 417.8 1219.0 1696.8 18.1 434.7 1244.0 1734.0 18.8 443.1 1272.0 1770.6 19.6 451.2 1299.8 1790.3 20.6 468.4 1301.3 1865.1 24.7 510.3 1330.1 1902.9 26.6 523.7 1352.6 1980.7 26.3 563.7 1390.8 2048.5 27.4 600.3 1420.8 2104.4 Total liabilities Budget agencies 28.5 638.3 Govt.-spons. enterprises 1437.6 Fed. related mortgage pools 1 2 3 4 5 6 7 8 9 1577.9 34.7 6.0 62.4 1601.2 40.3 6.0 65.6 1652.7 45.0 5.7 72.3 1696.3 44.9 5.5 73.7 1734.0 47.0 5.4 80.6 1770.6 46.4 5.1 82.4 1790.3 49.0 5.0 91.4 1865.1 55.1 4.8 101.1 1902.9 67.2 4.6 117.6 1980.7 75.6 4.2 124.4 2048.5 85.6 3.9 129.8 2104.4 Total assets U.S. government 103.3 Govt.-spons. enterprises 3.8 Monetary authority 135.0 Rest of the world 5 6 7 8 9 10 1474.7 1489.4 1529.7 1572.7 1600.9 1636.7 1644.8 1704.0 1713.4 1776.5 1829.2 1862.4 11 12 13 14 287.8 194.3 4.1 89.4 274.3 188.9 4.6 80.8 281.6 191.1 5.1 85.4 296.4 210.0 5.6 80.8 319.6 237.3 6.1 76.2 312.9 227.3 6.8 78.8 276.3 208.3 7.5 60.5 261.5 197.6 8.2 55.3 272.4 228.6 3.9 34.9 321.9 281.7 10.0 30.3 374.0 345.8 11.3 17.0 392.1 373.8 11.3 7.0 Nonfinancial sectors Household sector Nonfin. corp, business State and local govts. 11 12 13 14 15 16 17 18 19 335.7 321.2 11.2 2.4 1.0 345.9 331.2 11.7 1.8 1.2 357.9 341.3 13.5 1.6 1.5 371.3 353.4 13.8 2.3 1.9 378.5 360.1 14.1 2.2 2.1 398.4 377.0 17.0 2.2 2.2 408.6 385.9 18.0 2.4 2.2 417.1 393.3 19.0 2.5 2.3 423.2 396.3 21.5 3.1 2.3 425.7 394.9 25.1 3.4 2.3 429.4 398.4 24.8 3.7 2.4 428.7 398.3 24.0 3.9 2.5 Commercial banking U.S.-chartered banks Fgn. banking off. in US Bank holding companies Banks in U.S.-aff. areas 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 851.2 145.0 19.6 154.2 42.1 108.8 83.7 48.3 41.3 111.5 54.0 32.6 869.3 140.0 22.5 .71.7 43.0 110.5 88.9 52.9 39.7 110.0 57.6 32.6 390.1 142.1 24.6 905.0 137.3 26.9 185.8 42.5 115.8 88.0 66.7 50.9 96.3 62. 1 31.9 902.9 143.0 28.7 193.0 42.6 112.1 83.1 69.5 54.3 91.4 53.0 31.8 925.4 141.8 31.9 199.3 43.0 119.5 76.4 72.3 51.1 94.4 63.8 31.9 959.5 143.7 32.7 209.2 43.5 118.3 74.8 75.2 56.8 98.3 74.7 32.3 1025.4 144.7 34.6 216.9 44.0 121.6 75.6 89.5 65.8 102.5 97.6 32.6 1017.8 147.3 36.3 222.8 44.5 114.8 79.3 85.4 68.0 107.9 78.9 32.7 1028.9 148.6 40.0 228.0 44.8 112.5 81.2 75.4 68.3 113.0 84.5 32.7 1025.8 149.7 40.4 225.4 45.1 109.9 83.7 71.4 71.2 104.4 92.2 32.4 1041.5 160.0 40.2 227.2 45.4 107.6 84.9 73.6 74.0 99.2 97.2 32.2 Nonbank financial sectors Savings institutions Credit unions Life insurance companies Other insurance cos. Private pension funds St.aiocal govt.rtr.funds Mutual funds Money mkt. mutual funds ABS issuers Brokers and dealers Bank personal trusts 20 21 22 23 24 25 26 27 28 29 30 31 112.4 84.0 59.8 44.0 104.3 66.5 32.2 (2) BILLIONS OF DOLLARS, END OF PERIOD Total private domestic Agency securi ties include: issues of federal budget agencies (line 2) such as those for the TVA; i ssues of government-sponsored enterprises (line 3) such as FNMA and FHLB; and federally related mortgage-backed securities issued by GNMA, FNMA, FHLMC, and the Farmers Home Administration (line 4). Only the budget agency issues are considered officially to be part of the total debt of the U.S. government, which is shown in L.210, line 33. 10 DECEMBER 7, 1994 Private Securities Private Securities L.212-L.215 Private Securities 111 LEVELS, 1979-1990 LEVELS, 1979-1990 1979 1980 1981 1983 1982 1984 1985 1986 1987 1988 1989 1990 L.212 Tax-Exempt Securities and Loans (1) 341.5 292.9 13.1 279.7 365.4 302.8 14.9 288.0 398.3 317.9 16.0 301.9 451.3 347.3 22.7 324.5 505.7 380.8 21.3 359.6 564.4 408.8 17.6 391.2 744.6 536.2 20.5 515.7 787.0 590.7 20.4 570.3 862.5 668.1 18.7 649.4 921.4 725.5 21.2 704.4 991.2 793.8 25.3 768.5 1039.9 838.9 29.1 809.9 1 2 3 4 13.6 35.0 16.7 45.9 21.1 59.3 29.6 74.5 41.0 83.9 51.2 104.4 81.3 127.0 79.1 117.1 78.2 116.2 79.5 116.4 81.9 115.5 85.8 115.2 5 6 7 Total assets 8 Household sector Nonfin. corporate business 9 10 State and local governments Commercial banking 11 12 Savings institutions 341.5 74.3 3.7 6.8 135.6 4.1 365.4 76.4 3.5 7.0 148.8 3.6 398.3 93.2 3.5 7.1 154.0 3.6 451.3 122.1 3.5 7.4 158.3 3.3 505.7 156.7 4.2 8.0 162.1 3.1 564.4 184.3 4.1 9.0 174.6 2.8 744.6 257.2 4.9 7.8 231.7 3.4 787.0 242.5 8.0 7.7 203.4 3.1 862.5 322.5 10.5 8.1 174.3 3.1 921.4 375.3 12.0 9.6 151.6 2.8 991.2 430.8 11.4 11.9 133.8 2.6 Insurance sector Life insurance companies Other insurance companies Private pension funds St.aioc. govt. rtr. funds Mutual funds Closed-end funds Money market mutual funds Brokers snd dealers Bank personal trusts 83.1 6.4 72.8 3.9 4.0 2.2 27.7 91.3 6.7 80.5 4.1 4.4 1.9 2.5 26.0 94.9 7.2 83.9 3.9 5.1 4.2 3.0 29.6 99.7 9.0 87.0 0.6 3.1 8.0 13.2 4.6 31.2 99.2 10.0 86.7 0.5 2.0 13.4 16.8 6.5 35.7 95.9 8.7 84.7 0.9 1.5 19.1 23.8 11.0 39.9 100.6 9.7 88.2 1.5 1.1 33.5 1.0 36.3 19.9 48.2 117.9 11.7 101.9 3.6 0.7 65.3 2.0 63.8 16.6 56.9 137.3 10.7 124.8 1.1 0.8 70.7 3.3 61.4 8.3 63.1 144.8 9.1 134.1 1.1 0.5 78.7 7.5 65.7 7.5 65.9 145.4 9.0 134.8 1.4 0.3 93.6 12.1 69.4 7.1 73.0 I Total liabilities 2 State and local governments 3 Short-term 4 Other 5 6 13 14 15 16 17 18 19 20 21 22 Household sector Nonfin. corporate business (industrial revenue bonds) 1039.9 7 448.5 8 10.1 9 14.5 10 117.4 11 3.0 12 151.0 12.3 136.9 1.4 0.4 109.1 13.9 83.6 7.9 80.8 13 14 15 16 17 18 19 20 21 22 (1) Includes small amounts of taxable securities issued since 1986. L.213 Corporate and Foreign Bonds 1 Total liabilities 2 Nonfin. corporate business 3 Rest of the world (2) 4 Financial sectors Commercial banking 5 Funding corporations 6 7 Savings institutions a Finance companies 9 REITs 10 Brokers and dealers ABS issuers 11 472.1 337.9 47.8 86.4 21.9 3.4 59.6 1.6 - 508.4 365.6 49.0 93.8 23.2 3.7 65.5 1.4 - 543.7 390.3 54.5 98.9 26.1 3.2 68.9 0.7 - 595.8 421.0 61.1 113.7 32.4 3.7 77.0 0.7 - 642.5 447.0 64.2 131.3 42.0 0.3 4.0 81.0 0.7 0.4 3.0 739.7 495.1 68.0 176.6 55.5 1.0 5.9 90.5 0.8 1.1 21.9 383.1 578.2 71.8 233.1 74.4 3.1 10.5 105.3 1.5 1.3 36.9 1105.6 705.4 74.9 325.4 90.5 4.6 15.4 131.6 1.8 3.4 73.1 1270.4 784.1 82.3 404.0 104.0 7.2 19.8 141.2 2.3 3.2 126.2 1432.6 887.2 89.2 456.1 109.1 6.2 21.7 1<S7.O 2.5 7.5 162.2 1581.3 961.1 94.1 526.1 113.7 4.9 18.3 162.7 2.7 13.8 210.1 1696.0 1 1008.2 2 115.4 3 572.4 4 108.9 5 7.7 6 12.7 7 173.2 8 2.8 9 15.3 10 246.7 11 12 Total assets 13 Household sector 14 Rest of the world (3) Commercial banking 15 16 Savings institutions 472.1 45.6 27.7 9.7 21.4 508.4 31.1 36.9 10.8 27.3 543.7 31.3 47.9 10.7 24.0 595.8 24.9 68.3 11.1 30.7 642.5 28.1 74.9 16.2 42.4 739.7 31.1 90.5 21.9 53.7 383.1 30.6 126.4 31.1 56.8 1105.6 60.2 166.6 53.3 64.1 1270.4 62.3 185.4 78.1 88.2 1432.6 38.4 199.3 39.0 105.3 1581.3 60.6 211.9 84.1 91.0 1696.0 94.7 217.2 38.7 75.6 12 13 14 15 16 340.3 170.1 23.6 63.7 83.0 7.2 2.4 1.6 16.4 372.3 178.8 23.6 77.7 92.2 8.5 2.4 2.0 17.1 396.5 186.1 26.3 83.3 100.8 10.1 2.3 3.4 17.4 425.9 202.3 25.8 95.2 102.6 10.2 2.8 5.9 16.0 441.6 219.1 21.6 107.9 93.0 13.0 2.6 7.9 15.8 494.6 242.8 25.7 123.4 102.7 16.5 2.2 13.7 15.6 577.1 230.6 33.9 155.1 107.4 20.1 2.5 22.9 15.7 666.8 321.4 48.0 178.3 119.1 46.9 3.9 23.2 20.5 751.6 388.3 55.5 190.1 117.7 54.2 6.1 19.4 25. 1 862.0 457.5 65.7 203.9 134.9 63.4 16.5 29.1 24.5 983.0 511.0 79.3 226.1 166.5 74.1 16.7 32.9 27.1 1060.8 566.9 89.2 235.5 169.3 87.6 15.0 28.9 27.3 17 18 19 20 21 22 23 24 25 17 18 19 20 21 22 23 24 25 Insurance sector Life insurance companies Other insurance companies Private pension funds St.Sloe. govt. rtr. funds Mutual funds Closed-end funds Brokers and dealers Bank personal trusts L.214 Mutual Fund Shares 1 Shares at market value 51.8 61.8 59.8 76.9 112.1 136.7 240.2 413.5 460.1 478.3 566.2 602.1 1 2 Holdings at markat value Household sector 3 4 Nonfin. corp business 5 Commercial banking 6 Credit unions 7 Life insurance companies 8 Private pension funds 9 Bank personal trusts 51.8 39.4 1.1 0.9 5. 1 5.4 61.8 45.6 1.5 1.1 7.1 6.4 59.8 46.6 1.6 1.5 4.1 6.0 76.9 57.3 3.1 2.8 5.8 7.8 112.1 87.7 4.5 2.7 6.9 10.4 136.7 105.7 7.2 3.0 7.9 12.9 240.2 192.4 10.8 3.5 10.8 22.7 413.5 318.3 15.7 14.5 14.0 51.1 460.1 352.5 12.8 1.8 12.1 29.0 52.0 478.3 370.1 10.6 1.4 13.5 31.2 46.5 566.2 434.6 9.5 2.2 1.2 19.1 41.6 57.9 602.1 451.9 8.2 1.9 1.4 30.7 45.4 62.7 2 3 4 5 6 7 8 9 L.215 Corporate Equities (4) 1 Shares at market value 2 Nonfin. corporate business 3 Rest of the world (2) 4 Financial corporations 1175.2 929.1 14.8 231.3 1534.7 1255.8 18.9 260.0 1422.6 1133.6 16.5 272.5 1611.2 1274.3 17.4 319.4 1919.8 1536.7 26.2 357.0 1850.9 1448.4 26.0 376.5 2360.0 1797.2 41.0 521.8 2753.4 2136.0 63.0 564.5 2778.9 2243.1 69.6 466.2 3093.9 2510.8 86.0 502.2 3809.7 3173.3 119.9 516.5 3530.2 3010.6 110.0 409.5 1 2 3 4 5 Holdings at market value 6 Household sector 7 Rest of the world (3) 8 Commercial banking 9 Savings institutions 1175.2 690.0 43.3 0.1 4.7 1534.7 933.9 64.6 0.1 4.2 1422.6 839.9 64.4 0.1 3.2 1611.2 904.7 76.3 0.1 3.3 1919.8 1027.8 96.4 0.1 4.3 1850.9 951.4 96.1 2763.4 1398.6 168.9 0.1 7.0 2778.9 1383.0 175.6 3098.9 1513.7 201.0 4.1 2360.0 1210.3 125.6 0.1 5.2 7.0 8.5 3809.7 1328.5 251.2 4.7 11.0 3530.2 1716.7 221.7 2.2 8.8 5 6 7 8 9 10 11 12 13 14 15 16 17 18 K M K 10 11 12 13 14 15 16 17 18 Insurance sector Life insurance companies Other insurance companies Private pension funds St.Sloe. govt. rtr. fnds Mutual funds Closed-end funds Brokers and dealers Bank personal trusts 276.2 38.9 24.8 175.4 37.1 35.4 4.9 2.6 113. 0 346.3 46.3 32.3 223.5 44.3 42.4 4.9 3.3 135.0 344.8 46.2 32.4 218.5 47.8 37.4 4.2 3.5 125.0 434.5 52.9 38.5 282.9 60.2 49.4 4.1 4.9 133.9 550.2 62.2 48.1 350.3 89.6 74.4 4.3 10.0 152.4 560.5 60.3 44.7 359.0 96.5 80.6 3.7 8.9 145.5 715.4 74.0 57.0 464.4 120.1 113.7 4.2 14.1 171.4 838.6 76.4 61.2 550.9 150.2 161.2 7.5 17.7 163.8 854.1 80.5 65. 1 538.9 169.6 181.7 10.4 10.7 156.4 989.9 89.3 71.4 609.5 219.7 187.6 14.3 12.2 171.7 1225.3 106.5 34.0 734.7 300.1 250.5 17.1 14.1 207.3 1131.6 97.9 79.9 657.6 296.1 233.2 16.3 9.6 190.1 19 Memo: Market value of domestic corporations (5) 1128.2 1475.3 1366.1 1546.2 1831.2 1767.6 2243.7 2614.1 2623.2 2914.9 3570.0 3312.1 19 (2) (3) (4) (5) Holdings of foreign issues by U.S. residents. Holdings of U.S. issues by foreign residents. Excludes mutual fund shares shown above. Sum of lines 2 and 4 less the sum of lines 8, 12, 16, and 17; line 1 excludes intercorporate holdings of nonfinancial corporations. BILLIONS OF DOLLARS, END OF PERIOD DECEMBER 7, 1994 Private Securities Private Securities L.212-L.215 Private Securities 112 LEVELS, 1991-1994 LEVELS, 1991-1994 1992 1991 I IV I II III I I IV 1993 II I IV III I I I 1994 II III L.212 Tax-Exempt Securities and Loans (I) 1 2 3 4 1108.6 901.1 35.0 866.2 1118.1 908.8 34.5 874.3 1139.6 925.9 39.0 886.9 1142.7 926.2 38.0 888.2 1139.7 917.7 34.5 883.2 1160.7 937.9 35.1 902.8 1202.2 975.3 45.3 930.0 1210.0 978.5 38.2 940.3 1217.8 983.9 39.6 944.3 1222.3 985.4 38.9 946.5 1229.5 988.4 43.6 944.9 5 6 93.5 114.0 96.1 113.2 100.8 112.8 103.9 112.6 108.1 114.0 109.9 112.9 114.2 112.7 118.4 113.1 120.0 113.9 124.1 112.8 128.3 112.8 7 8 9 10 11 12 1108.6 483.3 11.7 15.9 103.2 2.4 1118.1 477.8 10.3 15.5 100.7 2.3 1139.6 485.4 11.8 15.3 98.9 2.3 1142.7 473.1 11.2 15.2 99.0 2.3 1139.7 448.6 12.3 15.3 97.5 2.1 1160.7 447.4 11.8 15.2 95.9 2.1 1202.2 465.6 12.8 14.9 96.6 2.0 1210.0 446.6 14.3 15.1 99.2 2.0 1217.8 432.6 14.4 14.8 99.2 2.1 1222.3 419.3 13.4 14.4 99.6 2.1 1229.5 429.2 13.0 13.7 99.3 2.2 13 14 15 16 17 18 19 20 21 22 138.8 10.2 126.8 1.6 0.2 137.1 26.9 89.9 9.4 89.9 139.1 10.1 127.2 1.6 0.1 145.5 31.0 96.6 7.9 91.6 141.3 10.3 129.2 1.7 0.1 154.4 34.5 93.0 10.1 92.8 144.6 10.7 131.8 1.7 0.3 164.7 37.9 91.3 9.4 94.0 147.8 11.4 134.3 1.7 0.4 173.4 40.6 94.8 11.3 96.0 150.7 11.5 136.9 1.8 0.5 186.8 42.2 99.9 9.9 98.7 154.9 12.5 140.0 1.8 0.6 198.8 43.3 97.0 14.4 102.0 159.4 13.9 143.1 1.8 0.5 211.0 43.4 99.3 14.2 105.5 163.3 14.7 146.1 1.8 0.6 217.9 44.0 103.4 17.1 108.9 166.9 15.5 149.0 1.3 0.6 221.0 44.9 114.9 13.1 112.7 168.0 14.9 150.8 1.7 0.6 219.8 45.0 111.2 12.5 115.7 1209.9 Total liabilities State 3nd local governments 967.2 Short-term 33.5 Other 933.7 130.8 111.9 Household sector Nonfin. corporate business (industrial revenue bonds} 1 2 3 4 5 6 1209.9 Total assets 409.0 Household sector Nonfin. corporate business 12.0 State and local governments 12.8 98.6 Commercial banking Savings institutions 2.2 7 8 9 10 11 12 Insurance sector Life insurance ccmoanies Other insurance companies Private pension funds St.Sloc. govt. rtr. funds Mutual funds Closed-end funds Money market mutual funds 3rokers and dealers Bank personal trusts 13 14 15 16 17 18 19 20 21 22 168.5 14.5 151.6 1.7 0.7 220.6 45.1 110.5 12.4 118.2 (1) Includes small amounts of taxable securities issued since 1986. L.213 Corporate and Foreign Bonds 1 2 3 4 5 6 7 8 9 10 11 1856.5 1086.9 129.5 640.0 113.2 14.7 8.6 191.3 3.0 19.0 290.4 1895.6 1106.1 129.8 659.7 116.2 18.3 7.2 189.8 3.1 19.7 305.4 1940.5 1125.5 134.4 680.5 117.9 19.6 6.6 191.9 3.3 23.1 318.3 1979.9 1140.9 137.5 701.5 122.7 23.2 5.9 191.4 3.4 22.7 332.2 2023.1 1154.4 143.9 724.8 127.6 26.4 5.5 195.3 4.0 21.7 344.3 2087.4 1175.9 160.6 751.0 131.4 34.5 5.0 197.3 4.1 19.3 359.4 2141.5 1194.8 171.9 774.8 133.3 36.8 4.3 199.9 4.2 22.8 373.6 2216.3 1212.8 193.0 810.5 134.2 39.9 4.2 204.2 4.2 26.4 397.4 2277.0 1229.6 203.4 844.1 134.9 40.0 3.9 206.0 4.3 33.7 421.2 2328.3 1238.4 210.6 879.3 134.5 52.4 3.8 211.7 4.5 31.3 441.0 2356.5 1248.1 213.4 895.0 135.1 56.8 3.5 219.6 4.8 31.3 443.9 2380.4 Total liabilities 1254.3 Nonfin. corporate business 215.0 Rest of the world (2) 911.1 Financial sectors 136.4 Commercial banking Funding corporations 63.3 3.2 Savings institutions 228.2 Finance companies REITs 5.2 29.4 3rox.ers and dealers ABS issuers 445.3 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 1856.5 105.0 233.4 96.3 72.7 1895.6 110.9 236.7 94.5 71.8 1940.5 101.7 243.2 93.1 69.9 1979.9 92.9 249.2 96.3 73.0 2023.1 106.6 251.5 94.7 80.0 2087.4 115.6 247.7 98.5 81.7 2141.5 117.7 254.9 97.7 83.3 2216.3 116.8 261.7 99.1 88.0 2277.0 142.3 273.0 93.2 39.1 2328.3 158.4 280.8 97.3 97.4 2356.5 173.4 292.9 98.7 96.5 2380.4 Total assets 176.1 Household sector 302.7 Rest of the world (3) 101.0 Commercial banking 92.6 Savings institutions 12 13 14 15 16 17 18 19 20 21 22 23 24 25 1163.4 595.1 97.2 275.7 195.4 100.5 13.6 40.9 30.7 1180.1 607.8 97.8 272.3 202.2 110.3 14.4 44.7 32.1 1212.9 624.8 97.7 280.9 209.6 123.8 14.3 47.6 34.0 1244.9 638.8 97.4 292.4 216.3 115.2 14.3 53.2 35.8 1267.1 653.9 97.8 292.1 223.2 120.3 15.3 50.9 36.8 1299.5 674.5 98.9 303.1 223.0 130.2 17.2 59.8 37.2 1324.0 688.2 100.4 305.8 229.7 148.1 18.0 61.0 36.8 1356.7 706.6 102.0 316.8 231.4 167.6 18.6 71.7 36.2 1370.0 719.5 103.1 309.4 238.0 176.4 19.3 73.0 35.3 1383.0 736.0 103.9 299.7 243.4 179.0 20.1 77.0 35.4 1394.2 742.9 104.4 298.4 248.6 177.8 20.6 67.4 34.9 1405.7 750.4 104.7 296.7 253.9 130.8 20.7 66.5 34.4 17 18 19 20 21 22 23 24 25 Insurance sector Life insurance companies Other insurance companies Private pension funds St.Sloc. 3ovt. rtr. funds Mutuai -unds Closed-end funds Brokers and dealers 3ank personal trusts L.,214 Mutual Fund Shares 1 813.9 860.4 924.4 965.6 1042.1 1134.6 1225.8 1342.4 1429.3 1439.0 1443.1 1563.7 Shares at market value 1 2 3 4 5 6 7 8 9 813.9 592.0 10.9 3.7 2.6 46.7 64.4 93.6 860.4 619.8 13.1 4.5 3.2 51.1 69.2 99.5 924.4 669.6 13.9 4.0 3.7 56.6 73.4 103.2 965.6 687.9 14.8 4.4 3.9 63.0 78.6 113.0 1042.1 733.9 15.6 3.4 4.1 70.7 86.4 128.1 1134.6 791.1 17.0 3.7 4.3 79.9 97.0 1225.8 844.3 19.3 3.4 4.6 91.0 110.5 152.7 1342.4 915.8 20.8 3.8 4.4 102.3 124.8 170.6 1429.3 965.8 22.4 3.9 4.2 112.3 137.3 183.5 1439.0 975.4 22.3 3.0 0.1 113.2 140.7 184.4 1443.1 985.6 21.6 2.3 0.1 110.5 138.8 184.2 1563.7 Holdings at market value Household sector 1077.9 21.6 Nonfin. corp business 2.0 Commercial banking 0.1 Credit unions 113.4 Life insurance companies 148.8 Private pension funds 194.8 3ank personal trusts 2 3 4 5 6 7 8 9 L.215 Corporate Equities (4) 1 2 3 4 4863.6 4125.7 158.8 579.0 4925.5 4185.3 166.1 573.6 4841.5 4067.5 168.9 605.2 5004.2 4216.6 177.6 609.9 5462.9 4609.2 178.1 675.6 5647.3 4717.8 190.4 739.1 5683.7 4736.4 203.0 744.3 5941.7 4906.0 233.4 802.3 6186.5 5127.0 29 7.7 761.8 6052.2 4979.2 313.8 759.3 5877.7 4815.0 307.9 754.8 6135.1 Shares at market value 5064.9 Nonfin. corporate business 323.1 Rest of the world (2) 747.2 Financial corporations 1 2 3 4 5 6 7 8 9 4863.6 2468.6 271.9 4.5 10.3 4925.5 2537.2 268.7 4.4 10.4 4841.5 2427.7 267.2 4.4 10.4 5004.2 2548.1 262.0 4.1 10.6 5462.9 2810.0 300.2 4.9 11.2 5647.3 2874.1 305.3 5.1 11.3 5683.7 2362.9 306.4 5.3 11.4 5941.7 2987.7 308.3 5.6 11.9 6186.5 3094.4 3^0.0 7.0 12.5 6052.2 2973.9 345.9 6.5 12.0 5377.7 2842.5 343.4 6.8 10.8 6135.1 Holdings at market value 2894.5 Household sector 344.0 Rest of the world (3) 6.9 Commercial banking 11.0 Savings institutions 5 6 7 8 9 10 11 12 13 14 15 16 17 18 1487.1 117.9 94.1 888.5 386.6 351.1 21 .8 14.3 234.2 1472.2 117.9 95.7 855.5 403.1 363.6 22.4 12.3 229.1 1480.9 118.6 96.2 862.4 403.7 400.3 22.5 12.7 215.6 1532.6 120.9 96.4 392.0 423.2 400.4 22.6 12.1 211.7 1630.0 121.7 97.3 962.1 448.9 451.7 23.3 14.8 216.9 1694.9 125.2 98.5 1005.3 465.8 505.6 24.7 15.8 210.5 1711.9 125.6 100.2 1017.1 469.0 546.7 25.2 19.2 194.8 1774.1 129.1 101.9 1055.2 487.3 618.0 27.0 21.5 187.1 1829.2 139.6 103.4 1079.5 506.7 663.9 29.3 24.2 131.0 1792.6 141.1 104.3 1036.1 511.1 696.0 31.7 22.3 171.4 1772.7 150.1 100.3 1028.1 494.2 697.2 30.3 19.7 154.2 1846.9 154.7 105.3 1069.5 517.4 821.3 31.9 20.0 158.6 19 4570.2 4624.7 4536.9 4691.4 5144.6 5312.7 5331.0 5552.4 5724.9 5573.7 5412.6 Memo: Market value of domestic 5647.9 corporations (5) BILLIONS OF (2) (3) (4) (5) DOLLARS, END OF PERIOD Insurance sector Life insurance companies Other insurance comoanies Private pension funds St.Sloc. govt. rtr. fnds Mutual -unds Closed-end funds Brokers and dealers Sank personal trusts Holdings of foreign issues by U.S. residents. Holdings of U.S. issues by foreign residents. Excludes mutuai fund shares shown above. Sum of lines 2 and 4 less the sum of lines 8, 12, 16, and 17; line 1 excludes intercorporate holdings of nonfinancial corporations. 10 11 12 13 14 15 16 17 18 19 DECEMBER 7, 1994 Mortgages Mortgages L.216-L.217 Mortgage Markets 113 LEVELS, 1979-1990 LEVELS, 1979-1990 1979 1980 1981 1982 1984 1983 1985 1986 1987 1988 1989 1990 L.216 Total Mortgages 1 Total mortgages Home 2 3 Multifamily Commercial 4 Farm 5 1318.9 861.0 134.9 236.3 86.8 1460.4 965.1 142.3 255.5 97.5 1566.7 1039.8 142.1 277.5 107.2 1641.2 1081.8 145.8 302.2 111.3 1828.8 1199.4 160.9 354.8 113.7 2054.4 1335.0 185.7 421.3 112.4 2312.3 1504.6 215.5 486.4 105.9 2615.5 1707.1 251.8 561.4 95.2 2963.5 1936.1 276.1 663.5 87.7 3250.3 2171.0 293.7 702.7 83.0 3549.0 2407.8 306.5 754.2 80.5 3762.9 2616.3 309.4 753.3 78.9 1 2 3 4 5 6 Total liabilities 7 U.S. government 8 REITs 1318.9 0.7 2.0 1460.4 0.6 1.9 1566.7 0.4 1.9 1641.2 0.3 2.0 1828.8 0.2 2.1 2054.4 0.1 2.5 2312.3 0.1 2.5 2615.5 2963.5 3250.3 3549.0 3762.9 2.8 3.1 3.4 3.7 4.3 6 7 8 1316.3 838.2 478.1 86.8 264.8 126.5 1457.9 936.4 521.5 97.5 310.5 113.5 1564.3 1007.0 557.3 107.2 333.8 116.3 1638.8 1041.5 597.3 111.3 409.6 76.4 1826.4 1142.7 683.8 113.7 472.9 97.1 2051.3 1277.1 774.7 112.4 556.7 105.5 2309.7 1441.6 868.1 105.9 665.8 96.5 2612.7 1644.6 968.1 95.2 744.1 128.3 2960.3 1876.4 1084.0 37.7 804.8 191.4 3246.9 2127.8 1119.1 83. 0 850.6 185.5 3545.2 2376.9 1168.4 80.5 883.9 203.9 3758.5 2594.1 1164.4 78.9 893. 1 192.4 9 10 11 12 13 14 1318.9 85.8 11.0 23.6 1460.4 111.4 12.2 33.4 1566.7 119.0 20.3 41.0 1641.2 121.5 25.0 46.3 1823.8 121.4 29.3 54.2 2054.4 111.7 39.3 64.4 2312.3 124.8 44.0 74.2 2615.5 115.4 46.7 86.0 2963.5 171.7 41.1 94.7 3250.3 178.6 43.3 98.4 3549.0 190.2 41.1 104.7 3762.9 177.2 38.4 110.0 15 16 17 18 34.6 86.6 94.8 42.1 100.8 114.0 47.0 113.4 129.0 49.4 127.5 178.5 50.6 137.9 244.9 51.5 150.1 289.0 53.3 159.7 368.9 54.4 147.8 531.6 49.1 139.5 670.4 ^8.0 144.5 745.3 47.3 150.5 869.5 982.5 245.2 569.0 565.0 4.0 1046.6 262.7 598.9 594.3 4.7 1096.8 284.2 616.6 612.2 4.4 1093.0 301.3 580.6 576.3 ' 4.2 1190.5 330.5 633.9 626.9 7.0 1348.4 379.5 719.4 710.1 9.2 1487.4 429.2 778.0 765.7 12.4 1633.7 502.5 804.1 784.8 19.3 1797.0 591.4 854.2 824.3 29.9 1992.2 669.2 926.1 888.0 38.1 2145.6 763.5 917.4 872.5 44.8 2178.4 849.3 828.7 779.0 49.7 22 23 24 25 26 131.8 118.4 0.7 3.1 9.6 146.5 131.1 1.0 3.6 10.9 155.5 137.7 1.3 3.9 12.5 166.4 142.0 1.6 9.1 13.8 177.9 151.0 2.3 9.9 14.7 184.6 156.7 2.7 10.0 15.3 202.9 171.8 3.3 12.5 15.3 229.2 193.8 4.3 15.5 15.6 246.2 212.4 5.0 13.5 15.4 271.8 232.9 5.6 17.7 15.6 301.1 254.2 6.5 25.1 15.3 314.6 267.9 6.9 23.8 16.1 27 28 29 30 31 11.3 16.8 4.9 3.6 13.8 16.1 4.2 4.4 16.8 16.4 2.6 4.7 18.7 18.6 2.6 4.8 20.5 19.5 2.7 5.5 23.8 21.6 3.5 11.0 5.0 28.6 24.7 5.9 13.0 5.0 34.2 36.6 5.9 16.6 4.5 42.2 23.9 7.0 28.5 3.7 47.3 29.0 7.8 37.3 3.7 53.8 49.2 3.4 48.3 4.1 65.5 49.2 7.7 59.2 4.2 32 33 34 35 36 9 10 n 12 13 14 Private nonfinancial sectors Household sector Nonfinancial business Farm Nonfarm noncorporate Corporate 15 Total assets Household sector 16 17 Nonfarm ncncorp. business State and local governments 18 19 20 21 22 23 24 25 26 U.S. government Govt.-spons. enterprises (1) Fed. related mortgage pools Private finan. institutions Commercial banking Thrift institutions Savings institutions Credit unions 30 31 Insurance sector lire insurance companies Other insurance cos. Private pension funds St.Sloc. govt. rtr.funds 32 33 34 35 36 Finance companies Mortgage companies REITs ABS issuers Bank personal trusts 27 28 29 X X X X X 82.9 19 156.1 20 1019.9 21 (1) FHLB loans to members are included in "other loans" category. L.217 Home Mortgages (2) 1 Total liabilities 2 Household sector Nonfarm noncorp. business 3 4 Nonfin. corporate business 861.0 808.6 42.0 10.3 965.1 904.9 49.4 10.7 1039.8 973.3 55.5 11.1 1081.8 1004.7 65.6 11.5 1199.4 1092.3 94.6 12.0 1335.0 1220.2 102.2 12.6 1504.6 1378.8 112.5 13.3 1707.1 1573.7 119.4 14.0 1936.1 1795.3 126.1 14.7 2171.0 2023.1 132.5 15.4 2407.8 2253.1 138.7 16.0 2616.3 2455.0 144.7 16.6 1 2 3 4 5 Total assets 6 Household sector 7 Nonfarm noncorp. business State and local governments 8 861.0 39.6 3.3 11.3 965.1 62.3 3.7 19.7 1039.8 72.3 6.5 25.6 1081.3 78.3 8.5 28.6 1199.4 74.0 10.0 33.7 1335.0 67.8 13.3 39.2 1504.6 80.3 13.9 45.0 1707.1 67.1 16.1 49.0 1936.1 107.4 15.0 50.1 2171.0 131.5 17.1 52.6 2407.8 149.7 17.1 57.3 2616.3 119.5 16.9 60.9 5 6 7 8 9 10 11 12 U.S. government Govt.-soons. enterprises Fed. related mortgage pools Commercial banking 15.6 50.1 88.4 149.5 18.3 57.3 107.1 160.4 20.7 64.0 125.0 170.3 22.1 74.3 174.3 173.8 22.9 83.7 239.5 132.5 23.5 94.4 283.0 196.2 24.4 106.6 361.5 213.4 24.1 101.4 519.7 235.8 20.8 98.9 654.0 276.3 21.0 104.7 723.6 314.3 21.3 110.0 342.3 368.6 37.9 9 115.3 10 990.4 11 453.0 12 13 14 15 Thrift institutions Savings institutions Credit unions 454.9 450.9 4.0 483.1 478.5 •4.7 499.4 494.9 4.4 460.7 456.4 4.2 490.4 433.4 7.0 540.4 531.1 9.2 574.1 561.7 12.4 537.6 563.3 19.3 6 03.1 573.2 29.9 679.7 641.6 38.1 675.8 631.0 44.8 627.3 13 577.6 14 49.7 15 16 17 18 19 Insurance sector Life insurance companies Private pension funds St.Sloc. govt. rtr. funds 20.4 16.1 1.2 3.1 22.9 17.9 1.4 3.5 22.5 17.2 1.5 3.8 23.9 16.8 3.3 3.9 22.0 15.3 2.8 3.9 21.6 14.1 3.7 3.8 20.0 12.4 3.9 3.7 21.3 12.8 5.3 3.2 19.0 13.2 2.3 3.5 17.6 11.2 3.0 3.4 21.2 12.2 5.6 3.4 24.7 13.0 8.2 3.5 16 17 13 19 20 21 22 23 24 Finance companies Mortgage companies REITs ABS issuers Bank personal trusts 11.3 12.0 0.5 3.6 13.8 11.0 0.4 4.4 16.8 11.2 0.3 4.7 18.7 13.4 0.3 4.8 20.5 14.3 0.2 5.5 23.8 15.7 0.2 11.0 5.0 28.6 13.5 0.3 13.0 5.0 34.2 29.5 0.3 16.6 4.5 42.2 17.7 0.3 27.3 3.7 47.3 22.6 0.4 34.9 3.7 53.8 42.3 0.4 43.3 4.1 65.5 41.9 0.4 53.3 4.2 20 21 22 23 24 (2) Mortgages on 1-4 family structures. BILLIONS OF DOLLARS, END OF PERIOD DECEMBER 7, 1994 Mortgages Mortgages 114 L.216-L.217 Mortgage Markets LEVELS, LEVELS, 1991-1994 1991-1994 1992 1991 I IV I II III 1993 I I IV II III IV 1994 II I I III L.216 Total Mortgages 1 2 3 4 5 3924.8 2780.0 306.4 759.0 79.3 3959.1 2823.5 309.0 747.4 79.2 3982.8 2857.2 304.8 741.0 79.8 4024.5 2915.4 302.0 726.6 80.5 4049.3 2959.6 295.4 713.9 80.4 4067.2 2979.3 294.1 713.0 80.8 4116.0 3038.1 291.4 705.5 81.0 4174.2 3098.3 290.7 704.0 81.1 4215.5 3147.3 290.5 696.5 81.2 4239.5 3178.4 289.0 690.7 81.4 4290.6 3225.1 290.1 692,6 82.9 4346.6 Total mortgages 3276.0 Home 291.9 Multifamily Commercial 694.8 Farm 83.8 1 2 3 4 5 6 7 8 3924.8 3959.1 4116.0 4174.2 4215.5 4239.5 4290.6 5.1 4049.3 * 5.4 4067.2 5.0 3982.8 * 5.0 4024.5 4.8 5.7 6.0 7.6 8.9 9.0 9.1 4346.6 Total liabilities U.S. government REITs 9.2 6 7 8 9 10 11 12 13 14 3920.0 2765.2 1154.8 79.3 882.4 193.1 3954.1 2813.0 1141.1 79.2 877.7 184.2 3977.7 2845.7 1132.0 79,8 870.3 181.9 4019.3 2908.4 1110.9 80.5 858.3 172.1 4043.9 2952.0 1091.9 80.4 845.9 165.6 4061.5 2975.6 1085.9 80.8 840.8 164.3 4109.9 3038.7 1071.2 81.0 831.5 158.7 4166.6 3100.2 1066.4 81.1 827.0 158.3 4206.5 3151.6 1055.0 81.2 823.6 153.2 4230.5 3184.3 1046.1 81.4 816.8 148.0 4281.5 3230.7 1050.8 82.9 817.9 150.0 4337.4 3282.1 1055.3 83.8 819.7 151.8 15 16 17 18 3924.8 162.1 34.8 113.7 3959.1 163.1 34.4 113.7 3982.8 163.9 34.0 113.9 4024.5 165.2 33.6 113.8 4049.3 166.2 33.1 113.7 4067.2 168.4 32.0 113.7 4116.0 170.9 30.8 110.6 4174.2 174.1 29.6 109.5 4215.5 177.1 28.4 108.3 4239.5 177.7 27.1 107.8 4290.6 183.2 26.3 107.9 4346.6 Total assets 186.7 Household sector Nonfarm noncorp. business 25.5 107.4 State and local governments 19 20 21 98.3 167.9 1156.5 102.5 175.9 1179.8 97.8 180.3 1219.0 90.6 186.9 1244.0 86.4 199.9 1272.0 81.9 205.1 1299.8 76.4 222.6 1301.3 73.2 233.4 1330.1 70.9 246.6 1352.6 66.8 256.7 1390.8 66.5 261.2 1420.8 67.5 266.8 1437.6 19 U.S. government Govt.-spons. enterprises (1) 20 Fed. related mortgage pools 21 22 23 24 25 26 2191.6 881.3 758.2 705.4 52.8 2139.7 886.3 733.4 682.3 51.0 2173.9 890.5 713.3 659.6 53.7 2190.5 897.2 701.0 648.2 52.8 2178.0 900.5 681.8 628.0 53.8 2166.3 898.0 671.7 617.2 54.6 2203.3 917.6 667.5 612.4 55.1 2224.4 929.6 665.1 609.7 * 55.4 2231.5 947.7 654.3 598.3 56.0 2212.6 945.4 642.0 584.5 57.5 2224.8 964.4 644.4 585.7 58.7 2255.1 989.0 647.9 587.4 60.5 Private finan. Institutions Commercial banking Thrift institutions Savings institutions Credit unions 27 28 29 30 31 320.9 265.3 6.5 32.2 16.9 317.6 263.3 6.4 31.3 16.2 313.1 259.3 6.3 31.7 15.9 307.1 253.9 6.1 32.5 14.6 301.4 246.7 5.9 35.2 13.6 301.8 244.4 5.6 36.2 15.6 298.6 242.2 5.2 36.7 14.5 295.7 237.6 4.8 38.2 15.1 287.1 229.1 4.5 39.0 14.5 280.5 224. 0 4.2 37.7 14.6 277.0 220.3 4.0 37.2 14.9 273.1 215.5 3.9 38.8 14.9 Insurance sector Life insurance companies Other insurance cos. Private pension funds St.Sloc. govt, rtr.funds 27 28 29 30 31 32 33 34 35 36 65.8 60.3 7.0 94.2 4.0 66.4 66.1 6.8 109.1 4.0 66.8 56.4 7.5 122.4 4.0 68.8 63.7 7.4 141.5 3.9 68.4 60.5 8.1 153.5 3.9 72.5 47.9 8.1 162.4 3.8 71.4 64.1 8.3 172.0 3.7 71.1 63.8 8.6 186.9 3.7 71.7 60.4 8.6 193.2 3.6 72.1 46.6 8.8 213.7 3.5 73.8 30.0 9.0 222.9 3.5 76.6 25.0 9.1 230.9 3.4 Finance companies Mortgage companies REITs ABS issuers Bank personal trusts 32 33 34 35 36 X X X X X X X X X X Private nonfinancial sectors Household sector Nonfinancial business Fam Nonfarm noncorporate Corporate 9 10 11 12 13 14 15 16 17 18 22 23 24 25 26 (1) FHLB loans to members are included in "other loans” category. L.217 Home Mortgages (2) 1 2 3 4 2780.0 2613.7 149.3 17.0 2823.5 2655.9 150.4 17.1 2857.2 2638.3 151.6 17.2 2915.4 2745.3 152.7 17.4 2959.6 2788.1 153.9 17.5 2979.3 2806.4 155.2 17.7 3038.1 2863.8 156.4 17.8 3098.3 2922.7 157.7 17.9 3147.3 2970.1 159.0 18.1 3178.4 2999.8 160.4 18.2 3225.1 3045.0 161.7 18.4 3276.0 Total liabilities Housencld sector 3094.4 Nonfarm noncorp. business 163.1 Nonfin. corporate business 18.5 1 2 3 4 5 6 7 8 2780.0 100.3 16.6 62.9 2823.5 101.1 16.3 62.7 2857.2 102.0 17.0 62.3 2915.4 103.6 17.2 62.6 2959.6 105.2 17.4 62.3 2979.3 106.4 17.3 62.2 3038.1 108.8 17.2 58.6 3098.3 111.4 17.0 57.7 3147.3 113.6 16.9 56.3 3178.4 113.1 16.7 55.6 3225.1 117.5 16.6 55.4 3276.0 Total assets 120.2 Household sector 16.4 Nonfara noncorp. business State and local governments 54.7 5 6 7 8 9 10 11 12 37.1 126.2 1130.4 485.6 38.2 133.7 1154.1 492.7 37.2 137.9 1194.0 495.6 34.5 144.1 1219.3 504.8 35.1 156.7 1248.2 510.8 33.6 161.8 1276.6 510.8 30.8 178.9 1278.7 530.5 29.0 189.0 1307.7 541.6 27.9 201.9 1330.2 560.7 25.9 211.8 1368.5 558.3 25.3 215.9 1398.5 574.4 25.6 221.4 1415.5 594.1 13 14 15 591.2 538.4 52.3 575.6 524.5 51.0 562.2 508.5 53.7 554.4 501.6 52.8 543.4 489.6 53.8 535.0 <580.4 54.6 535.8 480.7 55.1 533.9 478.5 55.4 525.9 470.0 56.0 515.6 458. 1 57.5 521.0 662.2 58.7 527.0 16 17 18 19 22.5 11.5 7.2 3.7 22.7 12.2 7.2 3.3 22.8 12.0 7.1 3.7 22.5 11.8 7.2 3.5 22.5 11.4 7.7 3.4 21.4 10.1 7.9 3.4 21.5 10.0 8.0 3.5 21.5 9.8 8.3 3.4 21.4 9.5 8.5 3.5 20.9 9.2 3.1 3.6 20.9 9.1 8.1 3.7 21.1 8.9 8.5 3.8 20 21 22 23 24 65.3 53.1 0.4 84.0 4.0 66.4 59.0 0.7 95.6 4.0 66.8 48.8 0.8 105.7 4.0 68.8 55.9 0.8 123.0 3.9 68.4 52.7 0.9 132.0 3.9 72.5 40.1 0.9 137.0 3.8 71.4 56.3 0.9 145.0 3.7 71.1 55.8 0.9 158.0 3.7 71.7 52.2 0.9 164.0 3.6 72.1 38.4 1.0 177.0 3.5 73.8 21.8 1.0 179.5 3.5 76.6 16.3 1.0 182.3 3.4 466.4 60.5 U.S. government Govt.-soons. enterorises rad. related mortgage pools Commercial banking 9 10 ll 12 Thrift institutions 13 14 15 Savings institutions Credit unions Insurance sector Life insurance comoanies Private pension funds St.Sloc. govt. rtr. funds 16 17 18 19 Finance companies Mortgage companies REITs ABS issuers 3ank personal trusts 20 21 22 23 24 (2) Mortgages on 1-4 family structures. BILLIONS OF DOLLARS, END OF PERIOD DECEMBER 7, 1994 Mortgages, Continued Mortgages, Continued L.218-L.220 Mortgage Markets, Continued lit LEVELS, 1979-1990 LEVELS, 1979-1990 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 L.218 Multifamily Residential Mortgages 1 Total liabilities Nonfarm noncorp, business 2 Nonfin. corporate business 3 REITs 4 U.S. government 5 134.9 121.4 12.1 0.6 0.7 142.3 128.7 12.5 0.6 0.6 142.1 128.2 12.8 0.6 0.4 145.8 131.6 13.3 0.7 0.3 160.9 146.2 13.8 0.7 0.2 185.7 170.4 14.4 0.8 0.1 215.5 199.6 15.0 0.8 0.1 251.8 235.1 15.8 0.9 X 276.1 258.6 16.5 1.0 X 293.7 275.4 17.1 1.1 X 306.5 287.5 17.8 1.2 X 309.4 289.6 18.3 1.4 X 1 2 3 4 5 6 Total assets Household sector 7 Nonfarm noncorp, business 8 State and local governments 9 134.9 11.2 2.1 9.2 142.3 12.0 2.3 10.7 142.1 10.3 4.0 11.9 145.8 9.8 5.0 13.3 160.9 11.2 6.1 15.7 185.7 11.4 8.1 20.2 215.5 13.4 8.8 23.4 251.8 17.2 9.8 30.4 276.1 21.9 8.8 37.4 293.7 23.9 9.4 38.5 306.5 22.8 9.2 39.7 309.4 21.5 9.0 40.7 6 7 8 9 10 11 12 IS 14 U.S. government Govt.-spons. enterprises Fed. related mortgage pools Commercial banking Savings institutions 8.6 6.6 5.3 11.2 54.1 10.4 6.7 6.0 12.9 54.2 11.4 5.5 3.2 15.0 53.7 11.1 5.4 3.6 16.5 53.6 10.7 5.3 4.8 18.4 60.5 10.1 6.5 5.5 20.3 74.7 10.2 8.5 7.0 23.4 89.2 11.1 8.7 11.9 31.2 96.4 11.5 8.4 16.4 33.3 103.5 11.8 9.5 21.6 34.1 107.1 12.3 12.0 27.2 38.0 104.4 22.9 13.2 29.5 37.0 91.8 10 11 12 13 14 15 16 17 Life insurance companies Private oension funds St.aioc. govt. rtr. funds 19.2 0.5 3.3 19.5 0.3 3.8 19.3 0.3 4.7 18.9 0.4 5.4 19.1 0.4 6.0 18.9 0.7 6.0 19.9 2.1 6.0 21.0 3.6 6.1 22.5 2.6 5.7 24.6 2.9 5.5 26.9 4.1 5.2 29.0 15 3.9 16 5.1 17 18 19 20 Mortgage companies REITs ABS issuers 2.0 1.6 2.2 1.3 2.1 0.8 2.2 0.8 1.8 0.9 1.8 1.3 2.0 1.8 2.7 1.8 ■ ■ 1.8 2.1 0.2 2.0 2.4 0.4 1.8 2.5 0.5 2.8 18 2.3 19 0.7 20 L.219 Commercial Mortgages 1 Total liabilities Household sector 2 Nonfarm noncorp, business 3 4 Nonfin. corporate business REITs 5 236.3 29.6 101.4 104.0 1.3 255.5 31.5 132.4 90.3 1.3 277.5 33.8 150.1 92.4 1.3 302.2 36.8 212.4 51.7 1.4 354.8 49.9 232.1 71.3 1.4 421.3 56.9 284.2 78.6 1.7 486.4 62.8 353.7 68.2 1.7 561.4 70.9 389.6 99.1 1.9 663.5 81.0 420.1 160.3 2.1 702.7 104.7 442.7 153.1 2.3 754.2 123.7 457.8 170.2 2.5 758.3 139.1 458.9 157.5 2.9 1 2 3 4 5 6 Total assets 7 Household sector Nonfarm noncorp, business 8 State and local governments 9 236.3 7.1 5.5 1.5 255.5 7.3 6.1 1.7 277.5 4.8 9.6 2.2 302.2 2.3 11.1 3.1 354.8 5.1 12.9 3.4 421.3 4.7 17.3 3.7 486.4 6.6 20.7 4.4 561.4 10.9 20.2 5.1 663.5 24.4 16.6 5.7 702.7 8.4 16.2 5.8 754.2 4.1 14.2 6.2 758.3 24.1 11.8 6.9 6 7 8 9 10 11 12 U.S. government Commercial banking Savings institutions 4.5 76.0 59.9 5.7 80.8 61.6 6.7 90.6 63.5 7.4 102.6 66.3 7.8 120.2 82.8 8.1 152.9 103.8 8.3 181.0 114.1 8.4 222.8 119.4 6.6 267.3 146.9 5.3 305.2 138.6 4.4 340.3 136.5 13.4 10 337.1 11 109.2 12 13 14 15 16 Life insurance companies Other insurance companies Private pension funds St.aioc. govt. rtr. funds 70.9 0.7 1.4 3.2 80.7 1.0 1.8 3.5 88.2 1.3 2.1 3.9 93.5 1.6 5.4 4.5 103.8 2.3 6.7 4.8 111.2 2.7 5.6 5.4 127.7 3.3 6.5 5.6 149.1 4.3 6.5 6.3 166.7 5.0 8.6 6.2 187.5 5.6 11.8 6.7 205.5 6.5 15.5 6.6 215.1 6.9 11.7 7.5 17 18 19 Mortgage companies REITs ABS issuers 2.8 2.8 3.0 2.4 3.1 1.6 3.0 1.5 3.4 1.5 4.1 1.9 4.2 3.8 4.4 3.9 4.4 4.5 0.5 4.4 5.1 2.1 4.5 5.4 4.5 ■ 13 14 15 16 4.5 17 5.0 18 5.2 19 L.220 Farm Mortgages 1 Total liabilities 86.8 97.5 107.2 111.3 113.7 112.4 105.9 95.2 87.7 83.0 80.5 78.9 1 2 Total assets Household sector 3 Nonfarm noncorp, business 4 State and local governments 5 86.8 28.0 0.1 1.0 97.5 29.7 0.1 1.2 107.2 31.1 0.3 1.4 111.3 31.1 0.4 1.4 113.7 31.1 0.3 1.3 112.4 27.9 0.6 1.4 105.9 24.5 0.6 1.4 95.2 20.2 0.6 1.5 87.7 18. 0 0.7 1.5 83. 0 14.9 0.7 1.5 80.5 13.6 0.7 1.5 78.9 12.0 0.7 1.5 2 3 4 5 U.S. government Govt.-spons. enterprises Fed. related mortgage pools 5.9 29.9 1.0 7.7 36.3 0.9 8.3 43.9 0.7 8.8 47.8 0.6 9.2 48.9 0.5 9.3 49.2 0.5 10.4 44.7 0.4 10.7 37.6 0.1 10.2 32.1 0.1 9.8 30.2 X 9.3 28.4 * 8.6 27.6 X 6 7 3 Commercial banking Savings institutions Life insurance companies St.Sloc. govt. rtr. funds 8.6 X 12.1 X 8.6 * 13.0 * 8.4 X 13.1 X 8.4 x 12.8 w 9.4 0.2 12.7 - 10.2 0.5 12.5 - 11.4 0.7 11.9 - 12.7 0.7 11.0 - 14.4 0.8 9.9 - 15.5 0.7 9.6 - 16.7 0.7 9.6 - 17.2 9 0.5 10 10.8 11 12 6 7 8 9 10 11 12 BILLIONS OF DOLLARS, END OF PERIOD. DECEMBER 7, 1994 Mortgages, Continued Mortgages, Continued 116 L.218-L.220 Mortgage Markets, Continued LEVELS, 1991-1994 LEVELS, 1991-1994 1991 IV 1 1 1992 ][ III II IV 1 1 1993 III II I IV 1 I 1994 II I III L.218 Multifamily Residential Mortgages 290.7 268.5 19.7 2.5 290.5 267.6 19.9 3.0 289.0 266.0 20.0 3.0 * 290.1 266.9 20.2 3.0 * 291.9 Total liabilities Nonfarm noncorp. business 268.5 Nonfin. corporate business 20.3 REITs 3.0 X U.S. government 1 2 3 4 5 291.4 21.4 7.9 42.7 290.7 21.5 7.7 42.8 290.5 21.8 7.5 42.8 289.0 21.9 7.2 42.9 290.1 22.3 7.0 43.0 291.9 Total assets 22.7 Household sector 6.7 Nonfarm noncorp. business 43.1 State and local governments 6 7 8 9 26.1 16.5 23.2 37.4 70.6 24.8 16.7 22.6 38.1 68.3 23.8 17.3 22.3 37.7 68.4 23.1 17.9 22.5 38.6 67.4 21.9 18.3 22.3 38.5 66.9 21.7 18.5 22.3 37.9 66.2 21.9 18.6 22.1 38.1 65.6 U.S. government Govt.-spons. enterorises Fed. related mortgage pools Commercial banking Savings institutions 10 11 12 13 14 27.8 1.6 4.2 27.6 1.7 4.0 27.4 1.7 4.1 26.3 1.8 4.0 25.8 1.8 4.1 25.2 1.3 4.1 24.9 1.7 4.1 24.2 1.8 4.2 Life insurance companies Private pension funds St.&loc. govt. rtr. funds 15 16 17 3.0 5.3 6.3 3.0 5.2 6.7 3.1 5.4 7.4 3.0 5.5 8.0 3.1 5.5 8.7 3.1 5.7 9.2 3.1 5.8 11.5 3.1 5.9 13.9 Mortgage companies REITs ABS issuers 18 19 20 1 2 3 4 5 306.4 286.0 18.8 1.6 309.0 288.5 18.9 1.7 304.8 284.1 19.0 1.7 * 302.0 281.1 19.2 1.7 295.4 274.3 19.3 1.8 294.1 272.8 19.4 1.9 291.4 269.8 19.6 2.0 6 7 8 9 306.4 22.6 8.4 41.7 309.0 22.6 8.4 41.8 304.8 22.2 8.4 42.1 302.0 21.9 8.4 42.2 295.4 21.2 8.3 42.4 294.1 21.4 8.1 42.5 10 11 12 13 14 31.9 14.6 26.1 36.9 79.9 33.6 15.1 25.6 37.0 77.2 30.7 15.3 25.0 37.7 74.8 28.8 15.7 24.7 38.8 73.7 27.6 16.2 23.8 38.0 69.8 15 16 17 29.6 1.5 4.8 29.7 1.5 4.7 29.2 1.5 4.5 28.6 1.5 4.3 18 19 20 2.7 2.2 3.7 2.7 4.5 4.7 2.7 4.9 5.8 2.9 4.8 5.8 X X X X X X X X L.219 Commercial Mortgages 1 2 3 4 5 759.0 151.5 447.0 157.3 3.2 747.4 157.1 438.8 143.2 3.4 741.0 157.4 434.6 145.6 3.4 726.6 163.1 424.4 135.6 3.4 713.9 163.9 417.6 128.8 3.6 713.0 169.2 412.7 127.2 3.3 705.5 174.9 405.2 121.3 4.0 704.0 177.5 400.8 120.7 5.1 696.5 181.4 393.9 115.3 6.0 690.7 184.5 390.4 109.7 6.0 692.6 185.7 389.3 111.5 6.1 694.8 Total liabilities Household sector 187.7 388.1 Nonfarm noncorp. business 113.0 Nonfin. corporate business 6.1 REITs 1 2 3 4 5 6 7 8 9 759.0 26.3 9.0 7.7 747.4 26.7 8.4 7.7 741.0 27.1 7.8 8.0 726.6 27.0 7.2 7.5 713.9 27.1 6.5 7.5 713.0 27.7 5.7 7.5 705.5 28.5 4.9 7.8 704.0 29.5 4.1 7.5 696.5 30.1 3.2 7.7 690.7 30.9 2.3 7.9 692.6 31.4 1.9 8.0 694.8 Total assets 31.3 Household sector 1.5 Nonfarm noncorp. business 8.2 State and local governments 6 7 8 9 10 11 12 21.2 340.3 86.7 22.6 337.7 80.3 21.3 337.6 75.9 18.4 333.7 72.5 14.6 331.8 68.2 13.1 329.8 65.8 11.5 328.5 63.1 10.9 329.5 62.4 10.2 327.5 60.7 9.1 327.4 59.2 9.2 330.1 56.9 9.5 334.4 55.1 U.S. government Commercial banking Savings institutions 10 11 12 13 14 15 16 214.1 6.5 23.6 8.3 211.7 6.4 23.0 8.2 208.7 6.3 23.1 7.8 204.1 6.1 23.9 6.8 198.3 5.9 25.9 6.1 197.3 5.6 26.7 8.2 195.4 5.2 27.0 7.0 191.7 4.8 28.2 7.6 184.3 4.5 28.7 7.0 180.2 4.2 27.7 7.0 177.5 4.0 27.4 7.1 173.0 3.9 28.5 7.0 Life insurance companies Other insurance companies Private pension funds St.&loc. govt. rtr. funds 13 14 15 16 17 18 19 4.5 4.5 6.5 4.4 1.6 8.8 4.9 1.8 10.9 4.3 1.8 12.7 4.8 1.9 15.2 4.8 2.0 18.7 4.8 2.1 19.6 5.0 2.1 20.9 5.1 2.1 25.5 5.1 2.2 27.5 5.1 2.2 31.8 5.1 2.3 34.7 Mortgage companies REITs ABS issuers 17 18 19 L..220 Farm Mortgages 1 79.3 79.2 79.8 80.5 80.4 80.3 81.0 81.1 81.2 81.4 82.9 33.8 Total liabilities 1 2 3 4 5 79.3 12.9 0.8 1.5 79.2 12.7 0.8 1.5 79.8 12.7 0.8 1.5 80.5 12.7 0.8 1.5 80.4 12.7 0.8 1.5 80.8 12.9 0.8 1.5 81.0 12.2 0.8 1.5 81.1 11.7 0.8 1.5 81.2 11.7 0.8 1.5 81.4 11.7 0.8 1.5 82.9 12.0 0.8 1.5 83.8 Total assets Household sector 12.1 Nonfarm noncorp. business 0.9 1.5 State and local governments 2 3 4 5 6 7 8 8.2 27.1 8.1 27.1 8.6 27.1 8.8 27.1 9.1 27.0 * 9.2 26.9 9.3 26.9 9.5 27.1 * 9.7 26.8 * 10.2 26.8 10.5 26.9 X X 9.9 26.5 X X X X U.S. government Govt.-spons. enterprises Fed. related mortgage pools 6 7 8 9 10 11 12 18.4 0.4 10.0 - 19.9 0.3 9.4 - 19.9 0.3 9.2 - 20.0 0.3 9.3 - 20.6 0.3 9.4 - 20.8 0.3 9.3 - 20.9 0.3 9.5 - 21.3 0.3 9.4 - 21.9 0.3 9.4 - 22.4 0.3 9.4 - Commercial banking Savings institutions Life insurance companies St.&loc. govt. rtr. funds X X 19.0 0.4 9.7 - X 19.6 0.3 9.3 - BILLIONS OF DOLLARS, END OF PERIOD 9 10 11 12 DECEMBER 7, 1994 Consumer Credit and Bank Loans n.e.c. Consumer Credit and Bank Loans n.e.c. 117 L.221-L.222 Consumer Credit and 3ank Loans Not Elsewhere Classified LEVELS, 1979-1990 LEVELS, 1979-1990 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 L.221 Consumer Credit 350.6 300.3 50.3 355.4 302.1 53.3 372.3 315.5 56.8 388.7 330.4 58.3 437.6 374.5 63.2 519.3 449.5 69.8 601.6 526.2 75.3 659.1 581.1 78.0 692.0 618.5 73.5 742.1 673.3 68.8 796.4 730.1 66.3 812.4 749.1 63.3 4 Total assets 5 Installment credit Nonfarm noncorp. business 6 7 Nonfin. corporate business 8 Commercial banking 9 Savings institutions 10 Credit unions Finance companies 11 12 ABS issuers 350.6 300.3 0.5 16.0 154.2 11.2 46.5 72.0 - 355.4 302.1 0.1 16.4 147.0 15.6 44.0 78.9 - 372.3 315.5 X 18.0 147.6 16.1 46.0 87.8 - 388.7 330.4 18.5 152.5 18.9 47.3 93.2 437.6 374.5 21.4 172.0 24.0 53.5 103.7 - 519.3 449.5 23.4 211.6 36.6 66.2 111.7 - 601.6 526.2 26.5 245.1 49.5 72.7 132.4 659.1 581.1 29.6 266.8 56.6 77.1 151.0 - 692.0 618.5 35.5 287.2 60.8 81.0 154.0 - 742.1 673.3 41.5 324.8 63.4 88.3 155.3 - 796.4 730.1 42.3 342.8 60.1 91.7 144.6 48.7 812.4 4 749.1 5 6 45.2 7 347.1 8 48.2 9 91.6 10 138.6 11 78.5 12 Noninstallment credit Nonfarm noncorp. business Nonfin. corporate business Commercial banking Savings institutions 50.3 0.4 12.3 32.2 5.4 53.3 0.1 13.0 33.2 7.1 56.8 12.3 36.6 7.8 58.3 12.3 38.4 7.6 63.2 14.0 41.7 7.5 69.8 14.9 47.2 7.6 75.3 16.0 51.3 8.1 78.0 17.4 54.3 6.3 73.5 18.5 50.5 4.5 68.8 19.5 46.0 3.3 66.3 21.5 42.3 2.5 63.3 21.9 39.9 1.4 13 14 15 16 17 1 Total liabilities (HH) Installment credit 2 Noninstallment credit 3 13 14 15 16 17 1 2 3 L.222 Bank Loans Not Elsewhere Classified Total loans by commercial 1 banking, flow of funds basis 876.6 938.1 1023.3 1068.0 1151.4 1308.2 1445.3 1603.3 1706.3 1854.7 2016.6 2100.2 I 245.2 186.4 20.2 14.1 410.8 262.7 180.2 20.9 15.3 458.5 284.2 184.2 26.2 16.5 512.2 301.3 190.9 26.2 16.8 532.8 330.5 213.7 28.7 14.3 564.2 379.5 258.8 34.5 12.6 622.9 429.2 296.3 45.4 9.7 664.6 502.5 321.1 39.6 8.6 731.5 591.4 337.6 34.4 11.2 731.6 669.2 370.7 33.9 10.1 770.8 763.5 385. 1 38.2 9.9 819.9 849.3 387.0 36.2 12.7 815.0 2 3 4 5 6 346.8 4.2 59.8 - 379.1 3.7 75.3 0.4 425.7 4.1 81.1 1.2 469.7 3.1 56.1 3.9 497.1 2.7 58.7 5.7 548.7 2.8 64.4 7.0 577.5 2.1 75.8 9.1 620.8 3.6 97.7 9.3 603.3 4.1 115.1 9.1 621.7 3.9 135.6 9.6 655.1 5.5 149.6 9.7 640.2 7 5.3 8 156.5 9 13.0 10 11 + Loans from F.R. banks 12 = Total bank loans n.e.c. 410.8 458.5 512.2 532.3 564.2 622.9 664.6 731.5 731.6 770.8 819.9 11 815.0 12 13 Total liabilities 14 Nonfinancial sectors Household sector 15 Farm business 16 17 Nonfarm noncorp. business Corporate business 18 410.8 382.8 21.7 31.0 72.8 204.3 458.5 429.3 27.8 31.6 75.3 230.3 512.2 481.3 33.5 32.9 85.5 261.7 532.3 499.5 35.1 36.1 76.0 318.5 564.2 528.3 35.6 33.9 75.5 340.9 622.9 578.1 23.9 39.9 92.4 391.1 664.6 620.0 34. 0 35.5 98.5 424.1 731.5 674.5 32.2 31.2 110.5 473.7 731.6 683.0 31.7 29.1 116.6 482.4 770.8 719.4 27.8 29.8 121.0 519.3 819.9 755.1 25.8 30.8 123.6 553.5 815.0 745.4 12.1 32.9 126.5 555.4 13 14 15 16 17 18 53.0 7.3 21.6 24.1 64.3 11.9 26.3 26.6 67.3 12.6 21.8 33.3 33.8 5.4 15.1 13.3 37.4 8.5 14.2 14.8 30.8 7.6 11.0 12.2 27.9 6.2 9.7 12.1 26.9 6.2 10.7 10.0 23.3 5.3 7.8 10.2 21.5 4.8 7.8 8.9 21.4 3.4 8.6 9.4 18.5 2.8 5.9 9.8 19 20 21 22 28.0 2.7 12.4 12.1 0.8 28.7 2.7 13.8 11.6 0.7 30.8 3.0 15.5 11.8 0.6 33.3 2.8 16.5 13.4 0.6 35.8 3.2 18.3 14.0 0.4 44.8 8.9 20.0 15.5 0.4 44.6 10.9 16.4 16.7 0.7 56.9 10.2 20.0 25.7 1.0 48.6 9.7 22.9 14.5 1.5 51.4 9.9 23.9 14.5 3.1 64.9 9.2 27.0 24.6 4.1 69.6 9.7 31.3 24.6 4.4 23 24 25 26 27 Loans elsewhere classified: 2 Mortgages Consumer credit 3 Security credit 4 Open market paper 5 6 = Banking sector total bank loans n.e.c. U.S.-chartered banks 7 Bank holding companies 8 9 Foreign banking off. in US 10 Banks in U.S.-aff. areas 19 20 21 22 23 24 25 26 27 Rest of the world Foreign official inst. Foreign banks Other foreign Financial sectors Savings institutions Finance companies Mortgage companies REITs BILLIONS OF DOLLARS, END OF PERIOD. DECEMBER 7, Consumer Credit and Bank Loans n.e.c. Consumer Credit and Bank Loans n.e.c. L.221-1.222 Consumer Credit and Bank Loans Not Elsewhere Classified LEVELS, 1991-1994 1991 IV I 11 1992 I 118 LEVELS, 1991-1994 II III IV J I 1993 I II III IV I 11 I 1994 II III L .221 Consumer Credit 1 2 3 797.4 744.2 53.2 775.2 723.2 52.0 773.4 721.9 51.5 781.4 729.8 51.6 803.0 746.5 56.5 788.2 736.3 51.9 800.2 746.0 54.3 824.3 772.1 52.1 866.5 812.8 53.7 863.6 810.0 53.6 895.3 842.1 53.2 932.1 Total liabilities (HK) 880.8 Installment credit 51.2 Noninstallment credit 4 5 6 7 8 9 10 11 12 797.4 744.2 42.3 340.7 41.4 90.3 126.2 103.3 775.2 723.2 37.3 328.5 38.7 89.5 122.2 107.0 773.4 721.9 38.3 326.5 37.6 88.3 120.5 110.6 781.4 729.8 39.3 327.4 37.1 90.7 120.6 114.7 803.0 746.5 44.6 330.1 37.0 91.7 121.6 121.4 788.2 736.3 44.6 330.2 36.6 91.4 112.6 120.9 800.2 746.0 46.4 336.2 37.3 95.4 110.6 120.1 824.3 772.1 48.9 351.7 37.2 98.9 111.0 124.5 866.5 812.8 57.6 368.5 37.9 101.6 116.5 130.7 863.6 810.0 53.4 369.7 37,1 101.6 120.1 128.1 895.3 842.1 55.4 386.2 38.1 108.2 124.3 129.9 932.1 Total assets 4 Installment credit 5 680.8 Nonfarm noncorp. business 6 56.0 Nonfin. corporate business 7 Commercial banking 410.3 8 37.9 Savings institutions 9 115.0 Credit unions 10 130.3 Finance companies 11 131.4 ABS issuers 12 13 14 15 16 17 53.2 20.7 31.7 0.8 52.0 18.6 32.8 0.6 51.5 18.4 32.6 0.5 51.6 18.3 33.0 0.4 56.5 20.7 35.4 0.3 51.9 19.2 32.5 0.2 54.3 19.5 34.7 0.1 52.1 20.0 32.2 ft 53.7 22.8 30.9 53.6 21.4 32.2 53.2 21.7 31.5 ■ 51.2 22.2 29.0 ■ I 2 3 Noninstallment credit Nonfarm noncorp. business Nonfin. corporate business Commercial banking Savings institutions 13 14 15 16 17 Total loans by commercial banking, flow of funds basis 1 L. 222 Bank Loans Not Elsewhere Classified 1 2097.0 2104.2 2108.4 2121.5 2139.8 2104.4 2150.4 2169.3 2223.5 2224.3 2265.7 2320.9 - Loans elsewhere classified: Mortgages 2 Consumer credit 3 Security credit 4 Open market paper 5 - Banking sector total bank 6 loans n.e.c. U.S.-cnartered banks 7 Bank holding companies 8 Foreign nanking off. in US 9 Banks in U.S.-aff, areas 10 2 3 4 5 6 881.3 372.4 46.8 10.6 785.9 886.3 361.3 71.6 10.5 774.4 890.5 359.1 71.9 10.1 776.8 897.2 360.4 80.6 9.1 774.2 900.6 365.5 88.0 9.2 776.6 898.0 362.7 79.6 8.6 755.4 917.6 370.9 89.3 7.1 765.5 929.6 383.8 88.4 6.5 '761.0 947.7 399.5 100.7 7.3 768.4 945.4 401.9 95.9 5.7 775.4 964.4 417.8 90.6 5.4 787.5 989.0 439.3 84.0 5.2 803.5 7 8 9 10 586.7 3.4 185.8 10.0 576.9 3.1 184.3 10.1 572.1 2.8 191.8 10.2 567.0 4.2 192.8 10.2 566.9 3.7 195.7 10.2 557.2 3.3 184.7 10.1 565.1 3.9 186.6 9.9 565.4 3.4 182.5 9.8 574.8 1.9 182.0 9.7 579.3 1.7 184.7 9.7 592.2 2.2 183.4 9.7 602.3 2.2 189.1 9.9 11 12 785.9 774.4 776.8 774.2 776,6 755.4 765.5 761.0 768.4 775.4 787.5 * Loans from F.R. banks 803.5 - Total bank loans n.e.c. ll 12 13 14 15 16 17 18 785.9 707.6 8.7 34.6 112.2 530.5 774.4 692.6 1.1 33.0 111.1 525.3 776.8 696.5 8.3 35.6 108.5 518.6 774.2 689.6 4.2 36.2 107.9 514.8 776.6 696.0 11.4 34.7 107.6 518.5 755.4 685.2 9.7 32.8 105.7 512.7 765.5 692.2 9.6 35.4 107.3 514.0 761.0 691.8 16.1 37.1 104.6 507.9 768.4 701.8 19.8 36.8 105.4 515.2 775.4 715.1 22.9 35.5 107.5 522.9 787.5 738.7 29.0 39.2 109.9 534.6 803.5 Total liaoilities 758.9 Nonfinancial sectors 33.3 Housenold sector 40.6 Farm ousiness 113.0 Nonfarm noncorp. business 545.9 Corporate business 13 14 15 16 17 18 19 20 21 22 21.6 2.4 6.9 12.3 22.0 2.4 7.1 12.5 25.5 2.6 8.6 14.4 26.5 2.9 9.0 14.6 23.9 3.3 7.6 13.0 24.3 3.0 8.2 13.1 25.9 3.1 9.0 13.9 26.2 3.4 9.5 13.3 24.6 2.4 8.8 13.5 26.2 2.7 9.6 13.9 26.0 2.1 9.6 14.3 26.2 2.4 9.3 14.5 23 24 25 26 27 78.4 8.9 42.3 22.2 5.0 81.8 9.4 38,0 29.0 5.5 80.3 8.7 37.8 28.2 5.6 84.6 8.8 38.1 31.8 5.9 80.5 8.9 37.6 30.2 3.7 70.3 8.6 34.1 23.9 3.6 73.3 8.3 29.4 32.0 3.6 69.2 8.0 25.8 31.8 3.5 66.5 8.4 25.3 29.2 3.6 60.3 10.2 24.2 22.3 3.6 48.9 7.9 23.3 14.0 3.7 44.5 7.6 21.6 11.5 3.8 BILLIONS OF DOLLARS, END OF PERIOD. Rest of the world Foreign official inst. Foreign banks Other foreign Financial sectors Savings institutions Finance companies Mortgage companies REITs 19 20 21 22 23 24 25 26 27 DECEMBER 7, 1994 Open Market Paper and Other Loans Open Market Paper and Other Loans L.223-L.224 Open Market Paper and Other Loans 119 LEVELS, LEVELS, 1979-1990 1979-1990 1979 1980 1981 1982 1984 1983 1985 1986 1987 1988 1989 1990 L.223 Open Market Paper 1 Total outstanding, all types 2 Commercial paper Nonfin. corporate business 3 4 Foreign issues in U.S. 5 6 7 8 9 10 11 Financial business Commercial banking Funding corporations Finance companies REITs ABS issuers Bankers acceptances (1) 12 Holdings, by sector Household sector 13 14 Nonfin. corporate business Rest of the world 15 145.0 110.9 24.5 4.6 163.8 121.6 28.0 7.0 215.1 161.1 42.7 10.8 226.8 161.8 37.6 15.1 253.8 183.5 36.8 21.5 305.7 231.7 58.5 27.7 358.5 293.9 72.2 33.9 384.9 326.1 62.9 37.4 437.9 373.6 73.8 41.2 513.4 451.8 85.7 49.9 579.2 521.9 107.1 63.0 609.9 557.8 116.9 75.3 81.8 20.4 60.7 0.8 - 86.6 25.9 12.5 47.6 0.5 - 107.6 33.0 16.8 57.2 0.6 109.2 34.6 22.8 51.4 0.4 - 125.2 38.0 25.7 60.5 0.4 0.7 145.5 44.1 26.1 73.1 0.6 1.5 187.8 46.4 35.6 102.7 0.7 2.4 225.9 43.1 54.1 124.3 1.1 3.3 258.6 44.6 72.5 135.0 1.4 5.1 316.1 44.4 111.6 152.1 1.3 6.8 351.7 48.3 125.4 160.7 1.1 15.7 365.6 5 30.1 6 137.9 7 165.3 8 0.9 9 31.4 10 1 2 3 4 34.1 42.2 54.0 65.0 70.3 74.0 64.6 58.8 64.3 61.6 57.4 145.0 28.0 26.7 8.4 163.8 30.8 19.4 9.3 215.1 19.4 26.8 8.0 226.8 21.3 36.7 6.3 253.8 42.2 41.4 7.1 305.7 40.6 44.8 8.3 358.5 99.0 45.3 8.2 386.9 93.3 40.9 8.0 437.9 114.8 46.6 9.0 513.4 146.1 47.0 11.9 579.2 136.3 52.4 14.2 609.9 131.0 53.9 12.3 12 13 14 15 52.1 11 16 17 18 19 20 .21 Govt.-spans, enterprises Monetary authority Commercial banking (1) Funding corporations Savings institutions Credit unions 0.3 14.1 0.6 2.6 - 0.4 15.8 0.6 3.8 - 0.7 16.5 1.0 5.1 - 0.4 16.8 1.1 6.9 - 0.8 14.3 2.6 5.2 0.7 12.6 2.7 3.8 0.1 0.1 9.7. 3.4 3.5 0.2 0.1 8.6 6.0 5.3 0.7 M 11.2 7.6 4.3 0.5 0.4 10.1 11.6 5.1 0.9 3.3 9.9 19.6 4.7 1.1 3.8 12.7 35.7 0.7 2.3 16 17 18 19 20 21 22 23 24 25 26 27 28 Life insurance companies Private pension funds St.&local govt. rtr. funds Mutual funds Money market mutual funds Brokers and dealers Bank personal trusts 7.0 15.4 2.9 19.3 7.2 12.6 8.3 19.5 3.8 31.6 6.3 13.9 12.0 24.5 3.6 70.4 11.6 15.4 15.1 15.2 3.0 69.1 16.4 18.5 20.4 17.2 2.0 4.0 66.2 11.6 18.8 22.3 19.6 5.0 6.4 98.0 17.3 23.6 20.0 19.9 10.0 4.1 99.1 14.5 21.5 24.5 23.2 16.5 9.4 105.3 12.6 25.6 27.1 33.3 22.5 12.6 111.3 14.2 22.4 32.2 36.3 20.4 21.4 129.1 14.8 26.3 36.6 26.3 19.4 19.6 186.6 17.3 30.9 27.7 24.9 23.5 25.9 206.7 18.4 30.5 22 23 24 25 26 27 28 (1) Excludes banks’ holdings of own acceptances. L.224 Other Loans 331.6 379.7 460.4 494.4 530.0 624.1 681.2 750.3 815.6 375.0 913.9 949.4 1 2 Savings inst. loans to bus. Nonfarm noncorp. ous. 3 Liab.: 4 Nonfin. corp, business 2.2 l.l 1.1 2.7 1.4 1.4 3.9 2.0 2.0 5.6 2.8 2.8 11.7 5.3 5.8 20.7 10.3 10.3 29.3 14.7 14.7 39.8 19.9 19.9 40.9 20.4 20.4 49.2 24.6 24.6 47.0 23.5 23.5 34.3 17.2 17.2 2 3 4 5 Finance co. loans to business 6 Liab.: Nonfarm noncorp. bus. 7 Nonfin. corp, business 84.5 16.9 67.6 88.7 17.7 70.9 99.4 19.9 79.6 100.4 20.1 80.3 113.4 22.7 90.7 137.8 27.6 110.2 158.7 31.7 127.0 177.2 35.4 141.7 213.8 42.8 171.0 245.3 49.1 196.3 270.2 54.3 216.2 293.6 58.7 234.3 5 6 7 1 Total other loans a ABS is suer Ioans to business 9 Liab. : Nonfarm noncorp. bus. 10 Nonfin. corp, business - - - - - - - - - - 2.0 0.4 1.6 5.8 3 1.2 9 4.6 10 ii U.S. government loans Housenold sector 12 Liab. : 13 Farm business 14 Nonfarm noncorp. bus. 15 Nonfin. corp, business 16 St.&local governments 17 Rest of the world 13 Govt.-sp. enterprises 104.3 8.5 10.4 21.4 6.9 6.7 48.9 1.5 120.5 9.5 13.0 25.6 8.4 7.6 53.8 2.7 139.5 11.0 16.4 31.2 9.6 8.8 57.9 4.6 153.0 12.6 16.7 35.8 10.9 9.8 62.3 5.0 161.5 13.4 16.7 38.5 10.4 10.9 66.6 5.0 177.5 14.0 17.8 40.5 11.6 18.6 70.0 5.0 194.2 16.5 18.2 41.0 14.2 26.3 71.4 6.1 199.6 19.4 18.0 41.7 14.8 27.3 72.3 5.7 139.7 18.7 17.7 41.1 11.5 24.9 70.9 5.0 164.9 20.1 13.3 41.7 9.9 9.0 65.8 5.0 157.3 15.6 13.6 41.6 9.6 8.8 63.2 5.0 155.3 18.6 13.8 40.3 8.8 9.6 59.3 4.9 11 12 13 14 15 16 17 18 19 Govt. - spons. enterprise loans 20 Liab.: Housenold sector(SLMA) 21 Farm business (FICB) Noncorp. business (BC) 22 23 Commercial banks(FWLB) 24 Savings inst. (FHLB) 25 Credit unions (FHL3) 26 Life insurance (FHLB) 69.3 1.5 17.5 8.4 41.8 - 80.8 2.6 19.4 9.8 49.0 - 100.7 4.8 21.2 9.5 65.2 - 101.5 6.4 20.4 8.7 66.0 - 95.4 7.9 19.0 9.5 59.0 - 111.4 9.8 17.3 9.1 74.6 - 123.1 12.3 13.9 8.1 88.3 - 142.3 14.7 11.6 7.4 108.6 - 169.6 18.4 9.9 8.2 133.1 - 191.5 21.2 7.6 9.9 152.8 - 185.3 24.6 9.5 9.9 141.8 - 165.8 28.3 9.8 10.1 0.4 116.7 19 20 21 22 23 24 25 26 27 Policy loans (HH liability) 28 Asset: U.S. government 29 Life insurance cos. 35.9 1.1 34.8 42.6 1.2 41.4 50.0 1.3 48.7 54.2 1.2 53.0 55.2 1.2 54.1 55.6 1.1 54.5 55.5 1.1 54.4 55.4 1.3 54.1 55.3 1.7 53.6 55.2 0.9 54.2 58.3 0.9 57.4 62.5 27 0.9 28 61.6 29 Cust. liab. on acceptances 30 outstanding (bank asset) Nonfin. corp, business 31 Liab: 32 Rest of the world 32.5 13.3 18.6 39.8 17.1 22.7 51.1 21.4 29.6 58.8 20.7 38.2 65.7 27.6 38.0 69.4 30.4 39.0 60.0 28.3 31.6 54.4 23.1 26.3 59.8 32.6 27.3 57.5 32.6 24.9 55.4 35.3 19.6 45.5 30 29.2 31 16.3 32 2.9 4.5 15.7 20.9 27.2 51.7 60.3 81.7 86.5 111.5 137.9 186.7 33 Foreign loans to US corp, bus Nonfin. corp, business 33 Liab. : 3ILL IONS OF DOLLARS, END OF PERIOD. - DECEMBER 1t 1994 Open Market Paper and Other Loans Open Market Paper and Other Loans 120 L.223-1.224 Open Market Paper and Other Loans LEVELS, 1991-1994 1991 IV I 1 LEVELS, 1991-1994 I I 1992 X II III IV 1993 I II III IV I 1 I 1994 II III L.223 Open Market Paper 1 2 3 4 565.9 528.1 98.5 81.8 574.1 538.5 110.4 70.5 579.9 545.9 112.0 77.4 583.6 550.6 108.2 80.7 579.0 545.1 107.1 77.7 565.5 534.8 113.9 72.3 572.0 543.2 124.0 72.1 568.2 541.1 123.2 71.7 580.0 553.8 117.8 66.7 562.0 556.9 129.9 43.3 587.5 563.0 135.7 42.0 598.7 Total outstanding, all types 573.3 Commercial paper 138.7 Nonfin. corporate business 39.9 Foreign issues in U.S. 5 6 7 8 9 10 347.9 24.3 124.5 159.5 0.9 38.7 357.6 24.0 137.6 154.4 0.9 40.7 356.5 22.5 144.9 147.7 0.9 40.5 361.7 22.1 143.0 153.2 0.9 42.6 360.4 20.4 135.2 156.4 0.9 47.4 346.7 22.7 127.6 149.8 0.7 47.8 347.0 23.6 129.7 144.5 0.5 48.8 346.1 22.9 126.4 149.9 0.6 46.4 367.2 25.6 129.9 159.2 0.6 51.9 363.8 26.7 137.9 165.9 0.6 52.6 385.3 28.5 134.3 171.2 0.6 50.7 394.7 31.2 136.9 171.0 0.7 54.8 Financial business Commercial banking Funding corporations Finance companies REITs ABS issuers 1 2 3 4 5 6 7 8 9 10 11 37.8 35.6 34.0 32.9 33.9 30.7 28.9 27.1 26.3 25.0 24.6 12 13 14 15 565.9 96.1 53.0 13.0 574.1 79.2 53.9 12.1 579.9 69.8 54.1 12.6 583.6 80.1 52.9 13.8 579.0 103.0 54.6 12.9 565.5 82.8 53.3 12.9 572.0 68.8 55.8 19.8 568.2 82.0 54.3 20.1 580.0 73.6 58.0 18.6 582.0 64.1 52.9 22.8 587.5 37.2 54.4 23.0 598.7 Holdings, by sector 49.1 Household sector 51.7 Nonfin. corporate business 19.9 Rest of the world 12 13 14 15 16 17 18 19 20 21 10.9 10.6 51.5 1.3 2.6 8.2 10.5 59.0 0.8 2.6 9.0 10.1 54,7 0.5 3.2 12.2 9.1 72.1 0.5 3.3 13.5 9.2 75.0 0.6 3.0 9.5 8.6 74.0 0.6 3.2 10.0 7.1 74.3 0.3 2.8 13.4 6.5 82.4 0.2 2.4 11.9 7.3 93.1 0.3 2.2 10.2 5.7 97.5 0.4 1.7 9.6 5.4 106.3 0.4 2.2 11.0 5.2 111.0 0.2 2.1 Govt.-spons. enterprises Monetary authority Commercial banking (1) Funding corporations Savings institutions Credit unions 16 17 18 19 20 21 22 23 24 25 26 27 28 20.8 20.8 32.8 21.5 191.9 14.0 25.2 21.8 21.0 33.4 30.5 203.3 13.6 24.4 21.0 19.7 35.6 33.7 195.7 16.7 23.9 18.1 18.1 37.2 40.0 186.7 16.2 23.4 12.9 17.9 38.6 28.8 174.7 11.6 22.8 14.6 20.4 40.0 34.7 175.9 13.0 22.0 16.2 20.6 41.7 45.2 174.4 13.7 21.2 12.8 19.3 38.2 42.8 160.3 13.2 20.3 10.1 19.2 38.9 50.3 165.1 12.0 19.5 11.9 17.4 39.0 61.2 168.5 9.9 18.8 10.1 15.8 39.2 68.5 180.1 17.4 18.1 9.4 16.1 39.4 74,2 180.7 11.4 17.4 Life insurance companies Private pension funds St.Slocal govt. rtr. funas Mutual funds Money market mutual funds Brokers and dealers Bank personal trusts 22 23 24 25 26 27 28 25.5 Bankers acceptances (1) 11 (1) Excludes banks' holdings of own acceptances. L.224 Other Loans I 857.5 853.1 859.4 864.3 870.2 867.4 869.1 869.6 880.1 884.9 899.8 2 3 4 19.3 9.7 9.7 20.6 10.3 10.3 19.1 9.6 9.6 18.1 9.0 9.0 12.4 6.2 6.2 11.3 5.6 5.6 11.0 5.5 5.5 11.1 5.5 5.5 10.8 5.4 5.4 10.4 5.2 5.2 10.2 5.1 5.1 10.2 Savings inst. loans to bus. 5.1 Liab. : Nonfarm noncorp. bus. 5.1 Nonfin. corp, business 2 3 4 5 6 7 292.9 58.6 234.3 29 0.8 58.2 232.6 293.2 58.6 234.6 288.5 57.7 230.8 296.5 59.3 237.2 292.7 58.5 234.2 291.8 58.4 233.4 291.9 58.4 233.5 294.6 58.9 235.7 302.3 60.5 241.8 313.2 62.6 250.6 317.2 Finance co. loans to business 63.5 Liab. : Nonfarm noncorp. bus. 253.8 Nonfin. corp, business 5 6 7 8 9 10 8.8 1.8 7.0 8.2 1.6 6.5 9.6 1.9 7.7 9.4 1.9 7.5 11.6 2.3 9.3 15.6 3.1 12.5 17.7 3.5 14.2 16.3 3.3 13.1 21.3 4.3 17.0 23.6 4.7 18.8 22.7 4.5 18.1 11 12 13 14 15 16 17 18 147.7 20.8 9.8 40.4 7.9 10.0 53.9 4.8 147.9 21.1 9.8 40.3 7.9 10.1 54.0 4.8 147.8 21.4 9.7 40.1 7.9 10.0 53.9 4.8 147.9 21.6 9.6 40.0 7.9 10.0 54.1 4.8 147.8 21.6 9.5 40.1 7.9 9.9 54.1 4.8 146.6 21.5 9.4 40.1 7.9 9.8 53.2 4.8 145.9 21.2 9.2 40.3 S.O 9.6 52.8 4.8 144.7 20.9 9.0 40.4 8.0 9.4 52.2 4.8 144.8 20.3 8.7 40.7 8.1 9.2 52.9 4.8 138.6 19.7 8.4 40.9 8.2 9.0 52.3 - 137.4 18.9 8.0 41.3 8.3 8.8 52.0 134.2 U.S. government loans 18.0 Liab. : Household sector 7.6 Farm business 41.7 Nonfarm noncorp. bus. 8.5 Nonfin. corp, business 8.5 St.Slocal governments 50.0 Rest of the world Govt.-sp. enterprises - 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 133.6 31.8 11.2 11.5 2.0 77.0 - 131.9 32.3 10.7 12.7 3.0 73.3 K 133.4 33.1 11.4 12.1 4.5 72.4 N 137.4 33.7 11.5 12.0 5.6 74.5 * M 137.4 33.4 11.4 12.6 6.4 73.4 N M 142.6 33.9 10.4 13.4 8.2 76.6 M * 150.5 34.3 ll.l 13.0 11.0 80.8 0.1 0.2 158.0 34.6 11.4 13.0 14.0 34.5 0.2 0.1 163.8 35.2 11.6 13.9 16.1 86.6 0.2 0.2 162.8 36.1 11.4 14.9 16.3 83.6 0.3 0.3 171.2 36.7 12.3 13.7 20.3 87.7 0.3 0.3 180.3 Govt. -spons. enterprise loans 38.1 Liab. : Household sector(SLMA) 12.3 Farm business (FIC3) 13.7 Noncorp. business (BC) 23.6 Commercial banks(FHL3) 91.9 Savings inst. (FHLB) 0.4 Credit unions (FHLB) 0.3 Life insurance (FHL3) 19 20 21 22 23 24 25 26 27 28 29 67.2 0.9 66.4 67.8 0.9 66.9 68.9 0.9 68.0 70.3 0.9 69.4 72.9 0.9 72.1 73.7 0.9 72.9 74.7 0.9 73.9 76.6 0.9 75.7 78.6 0.9 77.7 79.7 0.9 78.8 81 .8 0.9 80.9 84.1 Policy loans (HH liability) 0.9 Asset : U.S. government 83.3 Life insurance cos. 27 28 29 30 31 32 35.3 23.3 12.0 31.7 20.1 11.6 31.4 19.7 11.7 30.7 20.3 10.4 31.7 20.4 11.3 28.9 19.3 9.5 27.5 18.3 9.2 26.3 18.1 8.2 25.3 17.1 8.2 24.3 16.3 7.9 23.9 16.0 7.9 Cust. liab. on acceptances 24.7 out standing (bank asset) 16.9 Liab: Nonfin. corp, business 7.8 Rest of the world 30 31 32 33 152.7 154.2 1S5.9 162.1 159.9 155.9 150.0 144.7 141.0 143.3 139.5 BILLIONS OF DOLLARS, END OF PERIOD 911.5 Total other loans 1 22.7 ABS issuer loans to business 8 4.5 Liab. : Nonfarm noncorp. bus. 9 18.2 Nonfin, corp, business 10 Foreign loans to US corp. bus. 137.9 Liab. : Nonfin. corp, business 33 DECEMBER 7, 1994 Security Credit, Trade Credit, and Taxes Security Credit, Trade Credit, and Taxes L.225-L.229 Security Credit, Trade Credit, and Taxes Payable 121 LEVELS, 1979-1990 LEVELS, 1979-1990 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 L.225 Security Credit 1 Total liabilities Household sector 2 Rest of the world 3 4 5 6 7 Brokers and dealers From U.S.-chartered banks From fgn. bkg. off. in US Customer credit balances 8 Total assets Household sector 9 Rest of the world 10 11 12 Commercial banking Brokers and dealers 48.0 17.5 61.9 24.7 64.0 23.0 69.8 25.8 83.4 34.2 87.9 31.8 131.2 50.7 141.1 57.4 115.3 41.8 118.3 43.5 133.9 42.5 137.4 38.8 1 2 3 30.5 18.8 1.4 10.4 37.2 19.9 1.0 16.2 40.9 24.6 1.6 14.7 44.1 25.1 1.2 17.8 49.2 27.0 1.6 20.6 56.0 31.7 2.8 21.6 80.5 38.5 7.0 35.1 83.6 32.5 7.1 44.0 73.5 29.4 5.0 39.1 74.8 29.0 4.9 40.9 91.4 33.2 5.0 53.2 98.6 27.8 8.4 62.4 4 5 6 7 48.0 10.4 - 61.9 16.2 64.0 14.7 - 69.8 17.8 - 83.4 20.6 87.9 21.6 - 131.2 35.1 - 141.1 44.0 - 115.3 39.1 - 118.3 40.9 - 133.9 53.2 - 137.4 8 62.4 9 10 - 20.2 17.5 20.9 24.7 26.2 23.0 26.2 25.8 28.7 34.2 34.5 31.8 45.4 50.7 39.6 57.4 34.4 41.8 33.9 63.5 38.2 42.5 36.2 11 38.8 12 L.226 Trade Credit 428.1 12.6 16.3 31.7 482.0 13.8 17.4 36.4 520.5 14.8 18.4 41.6 526.1 15.6 19.1 45.3 570.5 18.0 18.6 45.8 616.1 21.2 17.6 51.5 664.2 24.3 15.1 56.9 691.7 26.6 12.1 61.1 748.8 31.4 10.9 68.6 837.1 41.5 11.8 72.8 905.3 57.6 12.3 79.3 942.2 68.9 12.7 81.9 1 2 3 4 309.8 16.1 20.2 20.0 1.3 347.7 18.1 25.6 21.3 1.7 376.4 19.2 26.3 21.8 2.1 381.3 20.1 18.3 23.7 2.6 418.3 20.9 17-2 26.7 5.1 452.0 21.9 16.5 29.9 5.5 486.0 23.0 16.3 34.5 8.0 499.7 24.6 15.6 44.4 7.6 539.6 26.6 13.1 46.8 6.8 596.7 23.8 25.8 49.1 8.5 629.3 31.5 28.6 53.3 8.0 658.6 34.6 27.4 52.0 6.1 5 6 7 8 9 10 Total assets Nonfarm noncorp, business 11 Nonfin. corporate business 12 Rest of the world 13 U.S. government 14 Other insurance companies 15 ABS issuers 16 510.9 30.2 430.7 25.2 11.3 13.6 - 569.9 32.5 478.1 28.6 15.1 15.6 603.4 37.0 502.2 28.4 17.6 18.1 - 604.4 45.0 486.6 30.1 22.4 20.2 - 669.5 52.4 537.6 30.3 26.2 22.2 0.7 733.0 59.3 584.7 31.1 31.3 2S.0 1.5 784.0 63.8 624.0 31.7 35.0 27.2 2.4 820.2 70.5 649.1 32.8 32.6 32.1 3.3 888.2 79.2 694.3 33.1 41.0 35.7 5.1 983.5 91.2 766.3 35.7 41.1 42.5 6.8 1044.7 99.0 809.9 38.0 44.5 45.3 8.0 1072.5 104.0 825.1 44.2 42.8 47.2 9.2 10 11 12 13 14 15 16 17 Discrepancy -82.9 -87.9 -83.0 -78.4 -98.9 -116.9 -119.9 -128.5 -139.4 -146.5 -139.5 -130.3 17 1 Total liabilities 2 Household sector Farm business 3 Nonfarm noncorp, business 4 5 6 7 8 9 Nonfin. corporate business State and local governments Rest of the world U.S. government Brokers and dealers L.227 Taxes Payable by Businesses 58.8 63.2 56.3 53.7 58.4 62.7 63.5 69.0 74.5 79.8 82.2 77.4 1 12.8 41.0 1.4 0.8 15.3 43.9 0.8 0.8 13.7 39.9 0.5 0.9 15.2 35.6 0.4 0.9 17.1 38.6 0.3 1.0 18.2 42.2 0.3 1.0 21.6 39.0 0.4 1.1 23.3 42.8 0.4 l.l 23.9 47.9 0.4 1.2 26.3 49.6 0.6 1.2 31.4 46.5 0.8 1.1 32.0 41.5 0.6 0.9 2 3 4 5 1.6 0.6 0.4 0.2 1.2 0.4 0.2 0.5 0.7 0.3 0.1 0.3 0.7 0.3 0.6 0.2 0.4 0.2 0.6 0.5 0.4 0.4 0.1 0.1 0.8 0.4 0.1 0.1 0.9 0.6 0.1 0.2 0.4 0.7 0.1 0.3 0.5 0.7 0.7 0.4 0.6 0.6 0.6 0.6 0.7 6 7 8 9 10 Total business taxes receivable 11 State and local governments U.S. government 12 31.6 31.3 19.5 19.3 24.1 31.0 38.4 48.1 49.5 58.4 61.2 59.6 10 16.6 14.9 19.6 12.2 17.8 1.7 19.3 - 22.1 2.1 23.1 7.9 27.0 11.3 29.8 18.4 30.3 19.3 33.9 24.5 37.4 23.8 37.1 11 22.5 12 13 Discrepancy 27.2 31.4 36.8 34.4 34.2 31.7 25.1 20.9 25.0 21.4 21.0 17.8 13 1 Total taxes payable by all businesses Nonfarm noncorp, business Nonfin. corporate business U.S.-chartered banks Savings institutions 2 3 4 5 6 7 8 9 Life insurance companies Other insurance companies Finance companies Brokers and dealers X X X L .229 Investment in 3ank Personal Trusts I Liab.: Bank personal trusts 215.2 244.8 248.1 264.2 293.2 306.1 358.3 404.4 414.2 443.7 515.1 522.1 1 2 Asset: Household sector 215.2 244.8 248.1 264.2 293.2 306.1 358.3 404.4 414.2 443.7 515.1 522.1 2 BILLIONS OF DOLLARS, END OF PERIOD. DECEMBER 7, 1994 Security Credit, Trade Credit, and Taxes Security Credit, Trade Credit, and Taxes L.225-L.229 Security Credit, Trade Credit, and Taxes Payable 122 LEVELS, 1991-1994 1991 IV I I LEVELS, 1991-1994 I I 1992 I II III IV 1993 I II IV III I !1 I 1994 II III L.,225 Security Credit I 2 3 188.9 55.1 194.6 51.2 - 193.3 56.3 - 214.5 55.8 - 217.3 53.3 225.0 59.1 - 234.7 58.7 254.5 66.6 279.3 75.9 - 282.7 76.5 - 278.1 75.7 263.2 Total liabilities 72.2 Household sector Rest of the world 4 5 6 7 133.8 30.0 16.8 87.0 143.4 56.9 14.7 71.8 137.0 54.4 17.5 65.1 158.6 56.3 24.3 78.0 164.1 57.3 30.7 76.1 165.9 55.9 23.7 86.3 175.9 58.9 30.4 86.7 187.9 60.2 28.1 99.5 203.3 61.4 39.3 102.7 206.3 63.2 32.8 110.3 202.4 58.4 32.2 111.8 191.0 54.7 29.3 107.0 a 9 10 188.9 87.0 - 194.6 71.8 193.3 65.1 - 214.5 78.0 - 217.3 76.1 225.0 86.3 - 234.7 86.7 - 254.5 99.5 - 279.3 102.7 - 282.7 110.3 - 278.1 111.3 - 263.2 Total assets 107.0 Household sector Rest of the world 11 12 46.8 55.1 71.6 51.2 71.9 56.3 80.6 55.8 88.0 53.3 79.6 59.1 39.3 58.7 88.4 66.6 100.7 75.9 95.9 76.5 90.6 75.7 34.0 72.2 Brokers and dealers From U.S.-chartered banks From fgn. bkg. off. in US Customer credit balances Commercial banking Brokers and dealers 1 2 3 4 5 6 7 8 9 10 11 12 L .226 Trade Credit 1 2 3 4 935.9 64.3 13.0 77.9 931.5 65.1 13.0 77.6 941.7 67.1 13.1 78.4 962.0 69.4 13.1 79.2 977.4 71.5 13.2 80.0 976.9 73.4 13.5 81.8 989.7 75.4 13.7 84.3 1009.6 77.5 14.0 85.3 1026.4 79.6 14.2 87.3 1022.3 81.7 14.5 88.3 1039.5 83.9 14.7 90.0 5 6 7 8 9 670.8 25.4 30.4 47.3 6.8 668.3 26.4 30.0 45.2 6.0 677.0 26.8 30.0 42.9 6.4 639.4 27.4 31.0 45.9 6.6 700.9 27.7 31.6 45.1 7.4 696.3 28.0 33.4 42.4 S.l 702.1 28.1 33.2 42.9 9.9 716.9 28.3 32.2 44.5 10.4 727.0 28.4 33.2 46.7 10.1 719.6 28.4 32.8 44.7 12.3 734.8 28.6 33.8 43.7 10.0 10 11 12 13 14 IS 16 1065.2 101.1 822.4 43.5 37.8 49.1 11.3 1076.4 102.6 833.6 43.8 38.3 49.2 11.9 1097.1 104.3 850.6 45.7 35.5 49.1 11.8 1111.5 106.1 865.0 46.6 32.4 49.0 12.4 1102.0 108.1 854.0 46.3 30.8 49.0 13.8 1107.3 110.1 856.9 47.4 30.1 49.3 13.9 1124.6 112.3 872.8 47.4 28.1 49.8 14.2 1140.1 114.6 381.3 51.2 28.7 50.3 13.5 1128.1 117.0 867.4 49.8 28.0 50.7 15.2 1143.9 119.4 880.9 51.4 25.8 51.0 15.4 1174.6 121.8 909.9 51.9 24.9 51.3 14.3 1198.5 Total assets 124.2 Nonfarm noncorp. business 929.2 Nonfin. corporate business 52.5 Rest of the world 24.9 U.S. government 51.6 Other insurance companies 16.0 ABS issuers 10 11 12 13 14 15 16 17 -129.3 -144.8 -155.3 -149.5 -124.6 -130.9 -135.0 -130.4 -101.7 -121.6 -135.1 -136.0 Discrepancy 17 1062.5 Total liabilities 86.2 Household sector 14.9 Farm business 91.2 Nonfarm noncorp. business 752.9 23.7 34.4 43.9 10.3 Nonfin. corporate business State and local governments Rest of the world U.S. government 3rokars and dealers 1 2 3 4 5 6 7 8 9 L .227 Taxes Payable by Businesses 1 71.2 75.7 72.9 77.0 79.6 82.9 81.2 82.8 84.2 88.8 84.4 2 3 4 5 32.5 33.3 0.5 1.2 32.6 37.3 0.6 1.3 32.8 34.4 0.6 1.2 33.0 38.2 0.7 1.2 33.1 40.5 0.7 1.4 33.3 43.1 0.8 1.6 33.5 40.9 0.9 1.7 33.6 41.6 1.1 1.9 33.8 42.5 1.2 1.9 34.0 46.6 1.4 2.1 34.2 42.5 1.5 1.4 6 7 9 1.1 1.1 0.7 0.9 1.1 1.1 0.7 0.9 l.l 1.1 0.8 0.9 1.1 1.1 0.8 1.0 1.1 l.l 0.8 0.8 l.l 1.1 0.8 1.1 1.1 1.1 0.8 1.1 1.2 1.2 0.9 1.4 1.2 1.2 0.9 1.4 1.2 1.2 0.9 1.4 1.3 1.3 1.0 1.4 10 53.4 65.9 57.6 56.3 54.4 68.4 56.8 58.6 58.0 73.7 60.7 37.0 16.4 38.2 27.6 39.2 18.4 39.4 17.0 38.9 15.5 38.9 29.5 39.5 17.3 39.5 19.1 39.1 18.9 38.9 34.7 39.4 21.3 64.4 Total business taxes receivable 39.6 State and local governments 24.8 U.S. government 10 11 12 13 17.8 9.8 15.2 20.7 25.2 14.5 24.3 24.3 26.2 15.2 23.6 23.8 Discrepancy 13 a 88.1 Total taxes payable oy all businesses 34.4 Nonfarm noncorp. business 46.0 Nonfin. corporate business 1.7 U.S.-chartered banks 1.1 Savings institutions 1.3 1.3 1.0 1.4 Life insurance comoanies Other insurance companies Finance companies Brokers and dealers 1 2 3 4 5 6 7 3 9 11 12 L.229 Investment in !3ank Personal Trusts 1 608.3 610.7 601.3 607.9 629.6 639.0 637.6 651.2 660.9 655.3 640.2 656.8 Liab.: Bank personal trusts 1 2 608.3 610.7 601.3 607.9 629.6 639.0 637.6 651.2 660.9 655.3 640.2 656.8 Asset: Household sector 2 BILLIONS OF DOLLARS, END OF PERIOD DECEMBER 7, 1994 Miscellaneous Miscellaneous 123 L.230 Total Miscellaneous Financial Claims LEVELS, 1979-1993 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 885.0 11.7 19.3 103.6 1029.6 12.9 23.1 138.4 1190.4 14.7 33.1 173.0 1277.0 15.5 44.0 ,191.3 1370.4 16.1 57.5 199.7 1482.3 15.1 77.4 220.7 1654.8 15.2 85.7 245.0 1838.9 13.9 88.9 289.8 2114.9 15.1 91.9 352.4 2382.3 15.5 103.3 428.3 2646.5 16.4 113.6 495.7 2820.4 16.5 123.0 536.1 1 2 3 4 Rest of the world U.S. sovernment 360.5 N 405.7 N 424.1 N 465.8 N 447.7 w 437.9 * 452.8 486.7 - 553.1 1.2 610.4 5.8 667.9 7.8 712.4 7.7 5 6 Financial sectors Govt.-spons. enterprises Monetary authority Commercial bankins Fundins corporations 390.0 24.8 4.8 112.1 1.1 449.5 28.4 3.8 126.8 1.1 545.6 33.0 4.4 184.6 2.1 560.3 38.8 4.4 178.7 2.3 649.4 38.5 4.2 200.1 5.2 731.1 48.8 4.8 216.6 5.4 856.0 55.7 4.8 238.6 6.9 959.6 64.0 4.7 270.6 -.4 1101.2 61.9 5.7 320.3 -8.8 1218.9 63.1 5.8 361.4 -19.2 1345.2 69.3 10.0 463.5 -13.2 32.8 1.6 '54.1 112.4 34.2 3.1 57.9 127.0 34.6 3.2 66.1 138.8 30.6 2.3 73.1 150.1 49.6 2.3 82.4 163.0 61.2 2.9 97.2 177.2 79.9 2.8 111.6 214.7 91.2 3.0 117.0 258.4 101.9 3.9 122.4 304.3 122.1 4.3 131.2 335.6 85.6 3.7 142.1 369.9 108.6 3.9 137.9 396.9 12 13 14 15 36.2 4.7 -.7 6.1 54.8 4.5 -.5 8.5 64.5 4.6 0.3 9.5 71.4 5.2 0.3 3.3 81.8 5.5 0.3 16.5 91.0 6.0 0.5 19,6 105.3 8.1 0.7 27.0 106.2 10.9 0.8 33.1 139.6 9.4 1.2 39.4 154.6 14.5 3.5 42. 0 152.5 24.6 2.1 35.2 159.5 24.6 1.2 37.5 16 17 18 19 939.6 66.7 14.9 36.1 432.2 1085.9 73.5 16.8 36.8 470.7 1265.2 80.4 18.5 55.3 537.0 1344.8 87.4 20.2 41.8 549.9 1451.2 102.9 21.3 38.1 537.3 1588.7 104.2 21.4 51.6 523.6 1789.0 132.5 24.3 59.0 537.5 1999.7 149.8 27.6 70.3 592.6 2299.8 174.9 29.6 81.0 666.0 2540.4 191.3 32.4 89.8 745.3 2891.6 206.2 34.5 97.5 749.1 3081.6 224.4 36.6 107.0 805.8 20 21 22 23 24 98.1 8.5 142.5 10.1 173,9 10.9 173.3 12.4 210.6 13.1 234.1 15.0 259.3 16.4 281.0 16.9 344.0 17.9 416.5 20.3 537.2 35.6 283.0 1.3 3.0 102.3 - 335.4 2.3 3.5 120.8 12.5 389.2 2.6 4.0 147.5 16.8 459.7 3.6 3.9 172.7 22.8 527.9 4.2 4.9 187.6 25.9 638.9 6.7 8.5 244.5 27.1 759.9 1.5 8.0 286.5 38.7 861.6 3.2 7.7 319.8 46.2 986.2 9.2 9.9 351.8 55.8 1044.8 16.2 9.4 374.4 75.4 1231.5 25.7 7.5 477.1 77.8 1278.0 28.1 6.9 455.4 81.4 27 28 29 30 31 1 Total liabilities 2 Household sector 3 Nonfarm noncorp. business Nonfin. corporate business 4 5 6 7 8 9 10 11 LEVELS, 1979-1990 12 13 14 15 Savinss institutions Credit unions Life insurance companies Other insurance companies 16 17 18 19 Finance companies Mortsase companies REITs Brokers and dealers 20 Total assets Household sector 21 Farm business 22 Nonfarm noncorp. business 23 24 Nonfin. corporate business 25 26 Rest of the world U.S. sovernment 27 28 29 30 31 Financial sectors Govt.-spons. enterprises Monetary authority Commercial bankins Fundins corporations 1424.8 7 70.6 8 5.6 9 471.2 10 7.2 11 560.1 25 69.8 26 32 33 34 35 36 37 Savinss institutions Credit unions Life insurance companies Other insurance companies Private pension funds St.Sloc. sovt. rtr. funds 38.1 2.3 24,9 6.8 77.7 - 38.7 5.7 28.5 7.8 83.8 0.8 44.4 4.7 35.8 8.9 82.6 1.6 63.5 4.2 44.0 9.5 87.0 3.0 76.4 4.2 50.1 9.9 106.0 5.8 108.0 3.5 59.1 9.9 109.1 4.2 122.5 4.4 66.8 10.0 136.3 5.6 124.6 7.0 74.8 11.8 155.1 8.0 146.3 4.4 84.7 15.5 174.8 8.8 177.8 4.5 93.4 18.9 101.3 24.8 140.3 5.9 101.3 22.4 127.6 55.3 153.8 7.9 99.4 24.8 119.6 78.3 32 33 34 35 36 37 38 39 40 41 42 Finance companies REITs Money market mutual funds Brokers and dealers Bank personal trusts 16.8 -1.6 0.7 6.5 4.1 18.7 -.9 1.1 7.8 4.4 22.0 0.5 2.9 9.5 5.4 25.5 0.8 1.8 11.9 5.4 27.8 0.8 1.5 17.1 5.8 27.6 2.0 3.0 19.6 5.9 40.1 2.3 3.6 26.8 6.8 53.1 2.4 6.5 34.7 6.5 67.6 3.4 7.9 38.2 7.8 79.4 6.0 8.5 47.2 7.6 94.3 7.0 13.7 66.5 9.0 103.9 5.5 7.3 97.0 8.7 38 39 40 41 42 -54.6 -56.3 -74.8 -67.7 -80.8 -106.4 -134.2 -160.8 -184.8 -158.2 -245.1 43 Discrepancy BILLIONS OF DOLLARS, END OF PERIOD. -261.2 43 DECEMBER 7, 1994 Miscellaneous Miscellaneous L.230 Total Miscellaneous Financial Claims 124 LEVELS, 1991-1994 LEVELS, 1991-1994 1991 IV I 1 1992 I II III IV I 1 1993 I II III IV I 1 I 1994 II III I 2 3 4 2992.2 15.7 129.2 561.6 2993.1 15.7 131.3 566.9 3034.7 15.7 133.5 575.9 3135.6 15.7 135.6 580.0 3160.2 15.8 138.0 583.2 3174.9 15.9 140.1 576.5 3249.9 16.1 141.9 577.9 3316.5 16.4 144.3 581.2 3414.6 16.6 146.1 583.6 3503.2 16.9 148.6 593.1 3550.8 17.1 150.8 593.9 5 6 718.5 7.0 686.5 6.7 706.1 6.9 713.0 6.6 713.5 6.9 719.7 6.8 747.3 6.8 752.3 6.5 794.7 6.8 826.6 6.5 822.9 6.6 876.5 6.6 7 8 9 10 11 1560.2 78.3 6.8 514.7 38.6 1586.0 90.3 3.7 502.4 45.1 1596.6 85.9 2.9 531.8 30.8 1684.6 90.7 3.2 567.2 65.2 1702.8 90.8 3.7 560.8 73.5 1716.0 78.4 4.2 581.1 81.9 1759.9 84.6 4.0 593.9 84.2 1815.8 81.9 5.4 614.9 102.3 1866.7 85.9 4.6 634.0 120.9 1911.5 73.6 4.7 670.7 124.0 1959.5 66.4 6.0 700.9 141.1 2018.9 64.0 5.9 730.9 152.5 12 13 14 15 107.1 4.5 149.0 416.0 106.8 4.0 154.3 421.0 105.7 4.4 156.7 427.4 106.8 5.0 158.8 433.6 107.3 4.6 161.6 439.2 105.3 4.8 165.0 443.5 106.5 5.0 168.5 447.1 107.8 5.2 173.6 450.4 103.7 5.1 176.2 456.6 104.2 5.0 179.3 461.9 108.5 5.4 180.9 467.3 110.9 5.4 184.0 472.7 Savings Institutions Credit unions Life insurance companies Other insurance companies 12 13 14 15 16 17 18 19 162.7 38.2 2.9 41.5 176.1 37.0 0.2 45.1 174.6 28.2 -.1 48.4 172.8 31.9 -l.i 50.7 179.2 30.3 2.4 49.4 179.9 24.0 0.6 47.4 182.4 32.1 1.5 50.0 188.2 32.0 1.6 52.7 190.9 31.2 2.3 55.2 193.5 24.3 1.7 68.6 197.6 16.0 1.9 67.4 207.2 13.5 1.4 70.4 Finance companies Mortgage companies REITs Brokers and dealers 16 17 18 19 20 21 22 23 24 3322.9 234.1 37.8 112.2 844.9 3369.3 238.0 38.2 113.2 871.4 3414.7 242.5 38.7 114.4 881.1 3524.0 247.0 39.3 115.4 909.7 3558.6 251.0 39.8 116.0 907.7 3607.6 254.5 40.2 116.5 897.9 3659.2 257.6 40.6 116.8 9 08.4 3769.0 261.9 40.9 117.1 931.6 3865.6 264.1 41.3 117.6 943.9 3973.5 267.8 41.8 118.0 969.9 3991.9 270.3 42.2 118.6 958.2 25 26 621.3 105.8 605.3 113.6 610.9 122.1 594.8 123.4 602.5 121.2 619.9 120.7 646.7 119.8 672.8 115.6 707.2 117.3 716.4 114.0 689.5 117.8 758.7 115.3 27 28 29 30 31 1366.9 34.1 6.6 473.2 74.8 1389.7 25.9 5.1 493.1 83.1 1405.0 27.1 5.2 521.0 85.9 1494.5 27.7 7.0 540.2 87.1 1520.4 21.4 7.4 550.0 85. 1 1557.8 24.1 7.7 575.2 96.0 1569.2 23.2 9.2 590.4 102.0 1629.1 27.5 8.3 610.7 103.8 1674.3 24.9 9.6 628.1 104.6 1745.6 23.0 8.6 657.6 119.4 1794.9 19.4 8.9 690.8 119.6 1842.7 16.1 8.7 702.4 130.7 32 33 34 35 36 37 112.6 12.3 110.7 23.7 157.3 62.0 106.2 16.3 108.4 24.2 155.2 64.7 104.8 16.0 108.2 24.6 155.4 63.5 101.7 16.9 108.0 20.8 159.3 80.0 96.6 15.7 108.0 23.3 171.6 84.0 84.3 17.9 109.1 23.9 177.2 85.2 79.1 18.0 112.5 24.4 179.1 59.9 71.7 19.1 110.9 24.7 185.7 59.0 70.4 16.5 107.2 27.1 189.0 57.6 67.8 22.6 112.7 27.5 182.9 58.2 65.1 22.2 110.5 27.7 180.7 62.8 58.1 17.5 116.1 27.3 187.4 73.9 Savings institutions Credit unions Life insurance companies Other insurance companies Private pension funds St.Sloc. 3ovt. rtr. funds 32 33 34 35 36 37 38 39 40 41 42 138.4 7.0 14.2 129.0 10.8 134.6 7.0 14.1 140.6 11.3 128.2 6.8 18.8 127.8 11.6 135.0 6.6 20.4 171.8 12.0 138.8 5.8 23.7 176.6 12.6 138.6 4.9 24.0 176.6 13.3 139.4 7.1 31.4 179.4 14.1 151.7 7.8 39.2 193.9 15.1 158.6 8.8 40.9 214.9 16.0 158.8 8.9 52.5 228.1 17.1 162.1 9.0 53.2 244.9 18.2 164.6 9.1 56.2 254.3 19.3 Finance companies REITs Money market mutual funds Brokers and dealers Bank personal trusts 38 39 40 41 42 43 -330.7 -376.2 -380.0 -388.4 -398.4 -432.7 -409.3 -452.6 -451.0 -470.3 -441.1 BILLIONS OF DOLLARS, END OF PERIOD 3673.5 Total liabilities Househola sector 17.3 Nonfarm noncorp. business 153.3 601.0 Nonfin. corporate business 1 2 3 4 Rest of the world U.S. government 5 6 Financial sectors Govt.-spons. enterprises Monetary authority Commercial banking Funding corporations 7 8 9 10 11 4129.9 Total assets 275.9 Household sector Farm business 42.3 118.9 Nonfarm noncorp. business Nonfin. corporate business 975.5 20 21 22 23 24 Rest of the world U.S. government 25 26 Financial sectors Govt.-spons. enterprises Monetary authority Commercial banking Funding corporations 27 28 29 30 31 -456.3 Discrepancy 43 DECEMBER 7, 1994 Identified Miscellaneous Financial Claims Identified Miscellaneous Financial Claims L.231 Identified Miscellaneous Financial Claims 125 LEVELS, 1979-1990 LEVELS, 1979-1990 1984 1985 1986 1987 1988 1989 1990 969.5 1033.4 1075.2 1153.2 1297.5 1455.3 1635.1 1796.4 1990.1 2131.6 1 404.2 384.3 8.1 1.5 7.8 1.7 0.9 426.4 402.9 10.1 1.7 8.9 2.0 0.8 419.8 393.8 11.4 1.7 9.5 2.4 1.0 410.0 382.0 12.6 1.7 9.9 2.9 .0.8 403.6 373.9 13.8 1.9 9.9 3.4 0.7 424.7 394.0 14.8 1.6 10.0 3.4 0.9 454.8 419.6 15.0 1.5 11.8 5.7 1.2 523.2 479.1 18.7 1.9 15.5 5.2 2.8 538.2 466.9 20.2 2.1 18.9 7.3 2.7 577.2 504.4 22.6 2.4 22.4 23.1 2.3 632.6 559.0 24.9 2.7 24.8 16.7 2.5 2 3 4 5 6 7 8 3.7 110.2 4.6 2.8 3.3 0.4 0.9 125.9 4.9 140.2 6.6 3.6 3.5 K 1.1 159.9 5.6 153.3 7.8 3.9 4.0 0.4 1.8 176.9 6.4 156.3 8.7 4.0 4.7 N 2.3 184.4 7.1 179.2 10.3 4.9 4.0 1.9 3.7 211.2 8.0 195.0 11.4 7.3 4.5 1.4 3.8 231.3 8.1 235.2 12.4 -12.4 9.4 6.0 3.6 3.6 265.8 3.1 295.6 14.4 -23.9 7.2 10.5 3.5 3.1 313.5 6.5 366.9 16.9 -42.4 7.3 11.7 2.7 4.8 374.3 6.7 423.3 16.6 -52.4 8.6 14.2 9.3 6.3 436.6 10.1 468.3 16.4 -64.2 9.9 17.3 4.6 3.8 468.1 9 10 11 12 13 14 15 16 17 1981 732.2 872.7 $48.2 331.2 6.5 1.3 6.8 1.5 1.0 direct investment in U.,s. Nonfarm noncorp. bus. 1.3 79.4 Nonfin. corp. bus. Commercial banking 2.0 Funding corporations 1.9 Life insurance cos. Other Insurance cos. 2.2 0.1 Finance companies Brokers and dealers 1.3 Rest of the world 88.3 U.S. direct Investment abroad Liab.: Rest of the world Asset: Nonfinan. corp. bus. Commercial banking Life insurance cos. Other Insurance cos. Finance companies Brekers and dealers Foreign 9 Liab.: 10 11 12 13 14 15 16 17 Asset: 1983 1980 1 Total identified olalms 2 3 4 5 6 7 8 1982 1979 U.S. govt, equity In IBRD, etc. 18 Liab.: Rest of the world 19 Asset: U.S. government 7.5 7.5 8.3 8.3 9.3 9.3 10.6 10.6 11.3 11.3 12.9 12.9 14.4 14.4 15.9 15.9 17.2 17.2 19.6 19.6 20.7 20.7 22.0 18 22.0 19 Nonofficial foreign currencies 20 Liab.: Rest of the world 21 Assat: U.S. government 0.9 0.9 1.8 1.8 1.6 1.6 1.8 1.8 1.8 1.8 2.1 2.1 1.9 1.9 0.9 0.9 0.8 O.S 0.7 0,7 0.6 0.6 0.6 20 0.6 21 Postal Savings System deposits 22 Liab.: U.S. government 23 Asset: Household sector * N M N M N M N N M N M - - - - - 10.1 10.1 11.9 11.9 14.7 14.7 11.8 11.8 18.9 18.9 23.3 23.3 27.0 27.0 20.4 20.4 19.0 19.0 25.9 25.9 30.7 24 30.7 25 1.1 1.1 1.2 1.2 1.3 1.3 1.4 1.4 1.5 1.5 1.6 1.6 1.8 1.8 1.9 1.9 2.0 2.0 2.1 2.1 2.2 2.2 2.4 26 2.4 27 9.0 2.5 0.6 0.6 5.1 - 9.7 3.1 0.8 0.6 5.2 - 11.0 3.7 0.8 0.6 - 12.0 4.1 0.9 0.7 - 14.6 - - 16.3 3.0 0.7 1.3 - 9.5 11.3 - 18.2 3.0 0.7 1.3 13.2 - 17.6 2.2 0.8 1.3 - 6.3 13.1 4.3 0.9 0.7 7.2 - 14.0 4.0 0.8 5.8 12.2 4.2 0.8 0.7 6.4 - Deposits at Federal Home Loan Banks 9.3 24 Liab.: Govt.-sp. enterprises Savings institutions 9.3 25 Asset: Federal Reserve Bank stock 26 Liab.: Monetary authority 27 Asset: Commercial banking Equity in govt.-spons. enterprises 28 Liab.: 29 Asset: 30 31 32 33 34 35 36 Govt.-sp. enterprises U.S. government Farm bus. (FICB 8 FLB) Nonfarm noncorp. (BC) Nonfin.corp.bus;(FNMA) Commercial banks(FHLB) Savings inst. (FHLB) Credit unions (FHLB) Life insur. cos.(FHLB) Deferred and unpaid life insurance premiums 37 Liab.: Household sector 11.7 12.9 38 Asset: Life insurance cos. 12.9 11.7 Life insurance company reserves Life insurance cos. Health Policy div. accum. Household sector - - 0.8 8.3 - 3.4 0.8 0.9 - 13.4 - - 15.0 2.0 0.6 1.3 0.1 11.0 N * 22 23 28 29 30 31 32 33 34 35 36 14.7 14.7 15.5 15.5 16.1 16.1 15.1 15.1 15.2 15.2 13.9 13.9 15.1 15.1 15.5 15.5 16.4 16.4 16.5 37 16.5 38 39.0 41.7 25.1 41.7 45.2 18.8 26.3 45.2 48.2 21.3 26.9 48.2 51.9 24.0 27.9 51.9 55.9 26.9 29.1 55.9 60.5 29.9 30.7 60.5 65.4 33.4 31.9 65.4 39 40 41 42 379.7 159.1 34.6 66.4 119.6 43 44 45 46 47 39 Liab.: 29.7 40 41 42 Asset: 10.4 19.3 29.7 31.4 11.0 20.4 31.4 33.5 11.9 21.6 33.5 35.8 13.2 35.8 15.0 24.0 39.0 110.2 37.0 12.4 21.8 38.9 123.7 42.1 13.7 24.3 43.6 135.3 46.8 14.8 26.3 47.3 146.1 51.6 16.1 28.4 50.0 158.3 63.9 17.1 23.3 53.5 173.1 62.5 17.1 34.8 58.6 210.2 87.4 20.4 39.6 62.8 252.4 101.6 24.2 45.0 81.6 293.3 123.0 26.7 51.7 92.4 323.9 135.4 29.4 56.6 102.5 355.7 145.7 32.4 60.4 117.2 Pension fund contributions payable 48 Liab.: Nonfin. corp, business 24.2 49 Asset: Private pension funds 24.2 28.1 28.1 32.7 32.7 38.0 38.0 41.3 41.3 41 .5 41.5 50.1 50.1 54.6 54.6 56.8 56.3 61.4 61.4 72.4 72.4 BHC investment in subsidiaries 50 Liab.: Commercial banking 51 Savings institutions 52 Finance companies 53 Mortgage companies 54 Brokers and dealers 55 Asset: Bank holding companies 60.4 4.8 14.6 4.7 84.5 67.2 5.5 16.9 4.5 94.1 85.9 5.9 7.9 4.6 104.3 102.1 5.3 13.5 5.2 125.1 117.6 5.3 17.3 5.5 145.6 136.4 6.5 25.0 6.0 174.0 152.1 7.2 35.8 8.1 203.2 163.8 7.3 41.3 10.9 228.3 172.6 6.5 37.5 9.4 15.0 240.9 193.8 6.4 27.6 14.5 17.3 259.7 202.4 6.4 26.4 24.6 18.6 278.4 NFC investment in finance co. subs. 6.4 56 Liab.: Finance companies 57 Asset: Nonfin. corp, business 6.4 7.5 7.5 8.6 8.6 9.7 9.7 10.8 10.3 11.9 11.9 16.7 16.7 18.7 18.7 12.5 12.5 9.2 9.2 8.8 8.8 15.0 56 15.0 57 - 3.9 8.6 12.5 12.6 4.2 16.8 17.1 5.7 22.8 19.3 6.7 25.9 19.6 7.5 27.1 22.7 16.0 38.7 26.9 19.4 46.2 34.1 21.7 55.8 46.9 28.5 75.4 49.5 28.3 77.8 47.6 58 33.8 59 81.4 60 1.1 1.1 1.1 1.1 2.1 2.1 2.3 2.3 5.2 5.2 5.4 5.4 6.9 6.9 12.0 12.0 15.1 15.1 23.2 23.2 39.3 39.3 71.4 61 71.4 62 22.6 16.6 Policy payables 43 Liab. : 44 Asset: 45 46 47 Fund ing 58 Liab.: 59 60 Asset: Other insurance cos. Household sector Farm business Nonfarm noncorp. bus. Nonfin. corp, business coro. invest, in subs. Fgn. bkg. off. in US Brokers and dealers Funding corporations Securities borrowed (net) 61 Liab. : Funding coroorations 62 Asset: Brokers and dealers BILLIONS OF DOLLARS, END OF PERIOD. 67.7 48 67.7 49 207.8 6.0 22.5 24.6 2.1 263.0 50 51 52 53 54 55 DECEMBER 7, 1994 Identified Miscellaneous Financial Claims Identified Miscellaneous Financial Claims 126 L.231 Identified Miscellaneous Financial Claims LEVELS, 1991-1994 1991 IV 1 2256.6 | I LEVELS, 1991-1994 1992 I 2298.6 II 2328.9 III 2395.9 IV 2405.0 I 1 1993 I 2432.7 II 2489.1 III 2533.6 IV 2596.1 I I I 2660.4 1994 II 2692.9 III 2751.0 Total identified claims U.S. direct investment abroad Liab. : Rest of the world Asset : Nonfinan. corp. bus. Commercial banking Life insurance cos. Other insurance cos. Finance companies Brokers and dealers 1 2 3 4 5 6 7 3 661.7 584.3 25.4 3.7 23.7 21.2 3.5 680.0 596.0 26.1 3.9 24.2 26.2 3.7 688.9 605.4 26.4 4.0 24.6 24.5 3.9 693.4 613.9 27.0 4.0 20.8 23.8 3.9 676.7 590.6 29.3 4.1 23.3 24.3 5.2 680.1 595.6 29.7 4.0 23.9 21.5 5.3 699.2 608.4 30.1 4.0 24.4 26.3 6.0 706.6 618.9 30.9 4.1 24.7 22.0 6.1 716.2 611.6 32.8 4.6 27.1 34.9 5.2 742.2 631.1 33.2 4.6 27.5 40.6 5.2 751.8 643.7 33.8 4.6 27.7 36.7 5.4 763.8 656.8 33.4 4.5 27.8 35.8 5.4 9 10 11 12 13 14 15 16 17 8.3 472.9 24.3 -64.3 9.0 24.3 11.6 5.7 491.9 8.4 479.5 24.6 -72.9 9.2 24.4 12.4 5.3 491.3 8.4 488.3 24.6 -78.6 9.4 24.6 12.4 6.0 495.0 8.4 490.2 25.2 -79.1 -9.5 24.5 12.8 5.9 497.5 8.7 486.6 26.3 -76.4 9.4 24.9 13.9 3.8 497.1 8.6 476.5 27.4 -66.2 9.4 24.9 13.5 3.8 498.1 8.4 476.9 28.6 -64.5 11.3 25.1 17.7 3.9 507.S 8.6 476.6 29.2 -62.6 11.6 25.0 18.5 3.9 511.0 8.3 477.2 31.0 -65.2 12.0 27.2 21.5 4.8 516.7 8.6 490.1 31.7 -71.0 12.3 27.8 23.4 5.3 528.4 8.7 492.2 32.5 -71.5 12.4 28.2 25.2 5.3 532.8 Foreign direct Investment in U.S. 9.1 Liab.: Nonfarm noncorp. bus. 495.4 Nonfin. corp. bus. 33.2 Commercial banking -69.5 Funding corporations 12.6 Life insurance cos. 28,8 Other insurance cos. 25.0 Finance companies 5.7 Brokers and dealers 540.3 Asset: Rest of the world 9 10 11 12 13 14 15 16 17 13 19 23.5 23.5 23.8 23.8 24.1 24.1 24.5 24.5 25.0 25.0 25.2 25.2 25.4 25.4 25.7 25.7 26.1 26.1 26.3 26.3 26.7 26.7 U.S. govt. equity in I3RD, etc. 27.1 Liab.: Rest of the world 27.1 Asset: U.S. government 18 19 20 21 1.6 1.6 1.6 1.6 1.8 1.8 1.5 1.5 1.6 1.6 2.0 2.0 2.4 2.4 2.9 2.9 1.9 1.9 1.8 1.8 1.9 1.9 Nonofficial foreign currencies 2.1 Liab.: Rest of the world 2.1 Asset: U.S. government 20 21 ■ - - - - - Postal Savings System deoosits - Liab.: U.S. government - Asset: Household sector 22 23 22 23 ■ 2 3 4 5 6 7 8 24 25 31.7 31.7 35.3 35.3 34.9 34.9 35.9 35.9 30.8 30.8 28.7 28.7 24.9 24.9 22.8 22.3 23.7 23.7 21.9 21.9 18.2 18.2 Deposits at Federal Home Loan 3anks 15.4 Liab.: Govt.-sp. enterprises 15.4 Asset: Savings institutions 24 25 26 27 2.7 2.7 2.7 2.7 2.8 2.8 3.0 3.0 3.1 3.1 3.2 3.2 3.3 3.3 3.3 3.3 3.4 3.4 3.4 3.4 3.5 3.5 Federal Reserve Bank stock 3.6 Liab.: Monetary authority 3.6 Asset: Commercial C3nking 26 27 28 29 30 31 32 33 34 35 36 14.3 2.2 0.6 1.8 0.7 9.5 14.7 2.1 0.6 1.9 0.9 9.3 14.4 2.0 0.6 1.9 1.0 8.8 * 14.7 2.1 0.6 1.9 1.3 8.8 14.7 2.1 0.6 1.9 1.4 8.6 15.0 2.2 0.7 1.9 1.7 8.6 15.4 2.2 0.7 1.9 2.0 8.5 0.1 16.0 2.2 0.7 1.9 2.4 8.7 0.1 16.3 2.2 0.8 1.9 2.7 8.7 0.1 16.7 2.3 0.8 2.0 3.0 8.5 0.1 17.4 2.3 0.9 2.0 3.6 8.6 0.1 0.1 Equity in govt .-spons. enterorises 17.8 Liab.: Govt.-sp. enterprises - Asset: U.S. government 2.3 Farm bus. (FIC3 8 FLB) 0.9 Nonfarm noncorp. (30 2.0 Nonfin.corp.bus.(FNMA) 3.9 Commercial banks(FHLB) 8.6 Savings inst. (FHLB) 0.1 Credit unions (FHLB) 0.1 Life insur. cos.(FHL3) 28 29 30 31 32 33 34 35 36 37 33 15.7 15.7 15.7 15.7 15.7 15.7 15.7 15.7 15.8 15.8 15.9 15.9 16.1 16.1 16.4 16.4 16.6 16.6 16.9 16.9 39 40 41 42 70.0 38.2 31.7 70.0 71.8 40.0 31.9 71.8 73.7 41.7 32.0 73.7 75.6 43.4 32.2 75.6 77.5 45.2 32.3 77.5 79.2 46.7 32.4 79.2 80.8 48.2 32.5 80.3 83.7 51.0 32.7 83.7 84.2 51.4 32.8 34.2 85.9 53.0 32.9 85.9 86.8 53.7 33.0 86.8 43 44 45 46 47 391.7 164.1 35.6 68.6 123.4 396.6 166.2 36.1 69.4 124.9 402.8 168.8 36.7 70.5 126.9 409.0 171.4 37.2 71.6 128.8 414.3 173.6 37.7 72.5 130.5 418.6 175.4 38.1 73.2 131.8 422.0 176.8 38.4 73.9 132.9 425.4 178.2 38.7 74.4 134.0 429.4 179.9 39.1 75.2 135.3 434.1 181.9 39.5 76.0 136.7 439.2 184.0 40.0 76.9 138.3 48 49 38.7 88.7 87.5 87.5 87.6 87.6 89.8 89.8 96.6 96.6 99.9 99.9 101.0 101.0 104.5 104.5 106.4 106.4 103.0 103.0 101.8 101.8 50 51 52 53 54 55 227.2 5.0 17.2 38.2 -19.8 267.8 223.0 4.8 17.2 37.0 -22.8 259.2 235.8 4.5 17.4 28.2 -11.4 274.5 244.0 4.3 17.5 31.9 -11.2 286.4 255.0 4.0 18.9 30.3 -10.1 298.0 263.2 4.0 21.6 24.0 -11.4 301.3 270.9 4.0 22.5 32.1 -11.5 318.1 279.1 4.2 22.3 32.0 -13.1 324.4 236.6 4.4 21.4 31.2 -.7 343.0 290.7 4.8 20.6 24.3 4.5 344.9 293.2 5.3 22.4 16.0 4.3 341.2 56 57 17.2 17.2 17.2 17.2 17.4 17.4 17.5 17.5 18.9 18.9 21.5 21.5 22.5 22.5 22.3 22.3 21.4 21.4 20.5 20.5 22.3 22.3 58 59 60 30.3 44.5 74.8 33.4 49.6 83.1 33.2 52.8 85.9 28.1 59.1 87.1 21.5 63.7 85.1 26.1 69.9 96.0 26.0 76.0 102.0 24.5 79.3 103.8 23.8 80.8 104.6 23.3 95.6 119.4 23.8 95.8 119.6 Funding corp, invest, in subs. 30.0 Liab.: Fgn. bkg. off. in US 100.7 Brokers and dealers 130.7 Asset: Funding corporations 58 59 60 61 62 102.9 102.9 118.0 118.0 109.3 109.3 144.3 144.3 150.0 150.0 148.1 148.1 148.6 148.6 164.8 164.8 136.1 136.1 195.0 195.0 212.6 212.6 Securities borrowed (net) 222.0 Liab.: Funding corporations 222.0 Asset: Brokers and dealers 61 62 X * X X X X X BILLIONS OF DOLLARS, END OF PERIOD X X X X X X X X Deferred and unpaid life insurance premiums 17.1 17.3 Liab.: Household sector 17.1 17.3 Asset: Life insurance cos. 37 38 Life insurance company reserves 89.6 Liab.: Life insurance cos. 56.5 Health 33.1 Policy div. accum. 89.6 Asset: Household sector 39 40 41 42 Policy payables 444.0 Liab.: Other insurance cos. 186.3 Asset: Household sector 40.5 Farm business 77.6 Nonfarm noncorp. bus. 139.6 Nonfin. corp, business 43 44 45 46 47 Pension fund contributions oayable Nonfin. corp, business <8 105.5 Liab. : 105.5 Asset: Private pension funds 49 BHC investment in subsidiaries 297.0 Liab.: Commercial banking 5.9 Savings institutions 25.0 Finance companies 13.5 Mortgage companies 5.4 Brokers and dealers 3ank holding companies 346.9 Asset: 50 51 52 53 54 55 NFC investment in finance co. subs. 25.0 Liab.: Finance comoanies 56 25.0 Asset: Nonfin. corp, ousiness 57 DECEMBER 1, 1994 Unidentified Miscellaneous Financial Claims 127 Unidentified Miscellaneous Financial Claims L.232 Unidentified Miscellaneous Financial Claims LEVELS, 1979-1990 1 Total liabilities 2 Nonfarm noncorp, business 3 U.S. government 4 Govt.-spons. enterprises 5 Rest of the world 6 Monetary authority LEVELS, 1979-1990 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 152.8 18.0 6.6 3.8 3.6 156.9 19.4 8.6 -8.7 2.6 220.9 28.1 10.1 -13.2 3.1 243.6 38.4 12.1 33.6 3.0 295.2 51.1 14.5 24.7 2.8 329.1 70.3 16.8 19.4 3.1 357.3 77.7 18.4 11.8 3.1 383.6 80.8 22.5 15.0 2.8 479.8 88.8 1.2 25.3 12.0 3.7 585.9 96.8 5.8 25.8 52.0 3.6 656.5 104.8 7.8 25.8 69.4 7.7 688.8 112.8 7.7 24.9 57.1 3.1 103.8 69.7 15.3 16.3 2.4 193.0 80.5 89.0 20.6 2.9 197.3 7 82.i 8 88.1 9 23.3 10 3.9 11 1 2 3 4 5 6 7 8 9 10 11 Commercial banking U.S.-chartered banks Foreign banking off. in US Bank holding companies Banks in U.S.-aff. areas 49.8 43.0 3.6 3.4 -.3 51.1 46.5 1.2 1.5 1.9 79.5 51.3 23.9 1.5 2.7 51.7 40.3 6.2 2.9 2.2 54.6 41.8 4.2 4.0 4.7 50.2 40.5 2.2 3.2 4.3 52.4 42.9 0.4 3.5 5.6 62.5 45.3 14.4 2.9 99.3 65.3 16.7 15.6 1.8 12 13 14 15 16 17 Savings Institutions Credit unions Life Insurance companies Finance companies REITs Brokers and dealers 28.0 1.6 22.5 15.0 -.7 4.8 28.7 3.1 23.7 29.9 -.5 -1.0 28.7 3.2 29.0 48.0 0.3 4.2 25.3 2.3 33.4 47.8 0.3 -4.2 44.3 2.3 39.4 53.6 0.3 7.5 54.7 2.9 50.6 52.1 0.5 8.4 72.7 2.8 59.2 51.4 0.7 7.1 83.9 3.0 59.5 42.6 0.8 10.1 95.4 3.9 63.3 86.2 1.2 -.5 115.7 4.3 68.0 115.2 3.5 -8.7 79.2 3.7 73.0 107.9 2.1 -18.0 102.6 3.9 62.7 117.4 1.2 -2.1 12 13 14 15 16 17 207.4 13.7 55.0 1.3 9.8 3.0 213.2 11.7 34.7 2.3 16.6 3.5 295.7 23.1 77.6 2.6 14.0 4.0 311.4 12.5 95.6 3.6 -3.5 3.9 376.0 13.5 90.2 4.2 26.2 4.9 435.6 15.9 78.4 6.7 22.9 8.5 491.5 18.5 63.2 1.5 26.0 8.0 544.5 24.5 71.8 3.2 15.2 7.7 664.6 28.5 80.8 9.2 30.6 9.9 744.1 32.5 145.4 16.2 42.1 9.4 901.5 36.3 117.4 14.3 25.7 100.6 7.5 950.0 40.0 110.9 47.1 28.1 91.9 6.9 18 19 20 21 22 23 24 18 Total assets Nonfarm noncorp, business 19 20 Nonfin. corporate business 21 U.S. government 22 Govt.-spons. enterprises 23 Rest of the world 24 Monetary authority M 25 26 27 28 29 Commercial banking U.S.-chartered banks Foreign banking off. in US Bank holding companies Banks in U.S.-aff. areas 10.2 3.7 -.1 1.8 4.8 17.3 7.2 2.1 1.4 6.6 31.8 8.5 11.9 1.9 9.5 33.9 3.6 21.6 2.4 6.3 27.9 -2.1 19.1 2.9 8.0 55.2 27.8 17.9 4.3 5.2 66.7 40.0 18.1 4.2 4.4 74.5 41.5 24.6 6.0 2.4 90.2 38.9 42.2 7.3 1.6 92.3 38.1 44.5 6.6 3.2 173.9 49.9 111.2 8.8 4.1 164.9 51.5 87.2 22.0 4.2 25 26 27 28 29 30 31 52 33 34 Savings institutions Credit unions Life insurance companies Private pension funds St.Sloc. govt. rtr. funds 23.7 2.3 11.9 53.5 - 23.5 5.7 14.1 55.7 0.8 26.6 4.7 19.4 49.9 1.6 42.5 4.2 26.8 49.0 3.0 58.2 4.2 32.3 64.6 5.8 82.0 3.5 42.1 67.6 4.2 90.8 4.4 50.1 86.2 5.6 88.2 7.0 59.5 100.5 8.0 114.6 4.4 67.7 118.0 8.8 145.6 4.5 75.7 40.0 24.8 101.0 5.9 82.6 55.3 55.3 112.1 7.9 80.2 51.8 78.3 30 31 32 33 34 35 36 37 38 39 Finance companies REITs Money market mutual funds Brokers and dealers Bank personal trusts 15.3 -1.6 0.7 4.4 4.1 17.0 -.9 1.1 5.8 4.4 20.0 0.5 2.9 6.5 5.4 23.1 0.8 1.8 8.6 5.4 24.8 0.8 1.5 11.1 5.8 24.2 2.0 3.0 13.6 5.9 36.7 2.3 3.6 19.0 6.8 47.4 2.4 6.5 21.5 6.5 62.4 3.4 7.9 20.3 7.8 72.1 6.0 8.5 21.3 7.6 71.2 7.0 13.7 24.9 9.0 85.2 5.5 7.3 23.1 8.7 35 36 37 38 39 -54.6 -56.3 -74.8 -67.7 -80.8 -106.4 -134.2 -160.8 -184.8 -158.2 -245.1 40 Discrepancy BILLIONS OF DOLLARS, END OF PERIOD. -261.2 40 DECEMBER 7, 1994 Unidentified Miscellaneous Financial Claims Unidentified Miscellaneous Financial Claims 128 L.232 Unidentified Miscellaneous Financial Claims LEVELS, 1991-1994 LEVELS, 1991-1994 1991 I iv 1992 i I II III IV I 11 1993 I II III IV I 11 I 1994 11 III 1 2 3 4 5 6 735.5 120.8 7.0 31.8 31.7 4.1 694.5 123.0 6.7 40.3 -19.0 0.9 705.8 125.1 6.9 36.6 -8.7 N 739.7 127.2 6.6 40.1 -6.5 0.2 755.1 129.3 6.9 45.4 10.2 0.6 742.2 131.5 6.8 34.6 12.4 1.0 760.8 133.6 6.8 44.3 20.3 0.7 782.9 135.7 6.5 43.2 17.0 2.0 818.4 137.8 6.8 45.8 50.6 1.2 842.9 140.0 6.5 35.0 56.3 1.3 857.9 142.1 6.6 30.8 42.5 2.5 922.6 Total liabilities 144.2 Nonfarm noncorp. business 6.6 U.S. government 30.8 Govt.-spons. enterprises 83.6 Rest of the world Monetary authority 2.3 7 8 9 10 11 232.8 91.3 120.4 18.2 2.9 221.4 93.6 1(15.4 18.9 3.5 238.2 95.6 119.3 19.7 3.7 269.9 96.5 145.9 23.7 3.8 258.0 82.5 149.4 22.0 4.2 264.4 90.5 148.3 21.0 4.6 268.4 93.9 147.7 21.7 5.1 282.1 91.8 162.0 22.6 5.6 292.6 96.1 170.8 19.6 6.1 324.4 146.7 149.7 21.3 6.7 351.5 155.5 168.5 20.2 7.3 370.7 173.5 163.5 25.8 7.9 Commercial banking 7 8 U.S.-chartered banks Foreign banking off. in US 9 10 Bank holding companies Banks in U.S.-aff. areas 11 12 13 14 15 16 17 102.1 4.5 70.1 116.6 2.9 11.1 102.1 4.0 73.3 129.2 0.2 12.5 101.2 4.4 73.6 127.4 -.1 1.1 102.6 5.0 73.7 125.1 -1.1 -3.1 103.3 4.6 74.8 127.5 2.4 -7.9 101.3 4.8 76.5 123.3 0.6 -14.9 102.5 5.0 76.4 119.6 1.5 -18.4 103.6 5.2 78.3 125.0 1.6 -17.3 99.2 5.1 80.1 126.7 2.3 -29.8 99.4 5.0 81.1 129.0 1.7 -36.8 103.1 5.4 81.8 127.7 1.9 -38.0 105.0 5.4 81.8 132.2 1.4 -41.4 Savings institutions Credit unions Life insurance companies Finance companies REITs Brokers and dealers 18 19 20 21 22 23 24 1066.2 43.0 118.1 80.7 34.1 129.4 6.6 1070.7 43.2 131.4 88.1 25.9 114.0 5.1 1085.8 43.3 129.5 96.2 27.1 115.9 5.2 1128.1 43.2 147.6 97.3 27.7 97.2 7.0 1153.5 42.9 165.8 94.6 21.4 105.4 7.4 1174.9 42.6 147.0 93.6 24.1 121.8 7.7 1170.0 42.3 142.7 91.9 23.2 139.2 9.2 1235.5 41.9 154.6 87.0 27.5 161.9 8.3 1269.4 41.6 173.7 89.3 24.9 190.4 9.6 1313.2 41.2 179.6 85.9 23.0 188.1 8.6 1299.0 40.8 151.9 89.2 19.4 156.6 8.9 25 26 27 28 29 176.8 48.7 102.1 22.2 3.7 204.2 48.2 117.7 34.6 3.6 216.2 45.4 136.1 31.2 3.4 222.6 46.4 142.4 30.7 3.1 218.2 43.8 144.4 27.0 3.0 239.3 42.4 160.3 33.7 2.8 237.0 40.3 163.4 30.4 2.8 249.7 40.1 176.7 30.1 2.7 246.3 36.5 179.7 27.5 2.6 273.0 77.0 164.0 29.6 2.4 308.7 87.8 183.9 34.9 2.2 314.5 80.0 191.7 40.9 1.9 30 31 32 33 34 71.4 12.3 91.3 68.6 62.0 61.6 16.3 88.8 67.7 64.7 61.2 16.0 88.5 67.8 63.5 57.0 16.9 88.3 69.5 80.0 57.2 15.7 88.2 74.9 84.0 47.0 17.8 89.1 77.3 85.2 45.7 18.0 92.2 78.1 59.9 40.2 19.0 90.4 81.1 59.0 38.0 16.4 85.9 82.6 57.6 37.4 22.6 91.2 79.9 58.2 38.3 22.1 88.8 78.9 62.8 35 36 37 38 39 117.2 7.0 14.2 22.6 10.8 108.5 7.0 14.1 19.0 11.3 103.7 6.8 18.8 14.6 11.6 111.2 6.6 20.4 23.6 12.0 114.4 5.8 23.7 21.4 12.6 117.1 4.9 24.0 23.3 13.3 113.1 7.1 31.4 24.8 14.1 129.8 7.8 39.2 23.0 15.1 123.7 8.8 40.9 23.6 16.0 118.2 8.9 52.5 27.3 17.1 125.4 9.0 53.2 26.9 18.2 40 -330.7 -376.2 -380.0 -388.4 -398.4 -432.7 -409.3 -452.6 -451.0 -470.3 -441.1 BILLIONS OF DOLLARS,, END OF PERIOD. 1378.9 Total assets 40.4 Nonfarm noncorp. business Nonfin. corporate business 152.3 66.2 U.S. government Govt.-spons. enterprises 16.1 218.4 Rest of the world Monetary authority 8.7 1 2 3 4 5 6 12 13 14 15 16 17 18 19 20 21 22 23 24 Commercial banking U.S.-chartered, banks Foreign banking off. in US Bank holding companies Banks in U.S.-aff. areas 25 28 27 28 29 34.1 17.4 94.2 81.8 73.9 Savings Institutions Credit unions Life Insurance companies Private pension funds St.Sloc. govt. rtr. funds 30 31 32 33 34 123.7 9.1 56.2 27.3 19.3 Finance companies REITs Money market mutual funds Brokers and dealers Bank personal trusts 35 36 37 38 39 -456.3 Discrepancy 40 DECEMBER 7, 1994 Nonprofits 129 Nonprofits F.IOO.a Nonprofit Organizations Cl) ANNUAL FLOWS 1 Nat finanolal Investment Nat acq. of financial assets 2 ANNUAL FLOWS 1988 1989 1990 1991 1992 30.3 57.3 3.6 48.2 21.2 57.9 16.5 53.8 9.1 49.1 1 2 S 4 5 6 Deposits Checkable dep. 8 ourr. Time * savings deposits Money market fund shares -13.5 0.5 -1.0 -13.1 12.8 -1.0 8.9 4.9 -9.5 1.3 -9.6 -1.2 30.5 3.3 5.6 21.5 -7.6 2.6 -1.2 -9.0 3 4 5 6 7 8 9 10 11 12 IS 14 15 Credit market Instruments U.S. govt, securities Treasury Agency Tax-exempt securities Corporate and fgn. bonds Mortgages Open market paper Security RFs 38.2 14.7 7.1 7.6 M 6.4 -l.l 17.8 0.4 44.9 32.6 32.0 0.7 1.9 16.2 1.4 -10.3 3.1 25.5 6.7 -1.5 8.2 -1.9 10.4 -1.1 13.7 -2.2 -33.0 3.1 0.1 2.9 0.1 6.8 -.4 -41.2 -1.4 38.6 3.0 1.6 1.5 -.1 20.1 3.0 7.8 4.7 7 8 9 10 11 12 IS 14 15 IS 17 Mutual fund shares Corporate equities -2.1 16.8 0.4 -17.7 -.2 21.6 -.2 34.3 2.0 -10.3 16 17 18 19 20 21 Equity ln noncorp. bus. Security credit Trade credit Miscellaneous assets 0.5 2.8 2.6 11.7 -5.0 2.8 2.8 7.1 -9.5 -7.4 -7.4 44.7 17.2 5.0 5.0 -4.9 17.0 1.2 1.2 6.9 18 19 20 21 22 Net Increase in liabilities 26.9 44.6 36.7 37.3 39.9 22 23 24 25 26 Credit market instruments Tax-exempt debt Commercial mortgages Bank loans n.e.c. 11.0 1.3 9.5 0.2 16.3 2.5 19.1 -5.2 17.7 3.8 15.3 -1.5 16.6 7.7 12.4 -3.5 28.7 14.6 12.4 1.7 23 24 25 26 27 28 Trade debt Miscellaneous liabilities 2.5 13.5 16.1 12.2 11.3 7.6 -4.7 25.4 7.2 4.0 27 26 (1) Does not Include religious organizations or organizations with lass than $25,000 In gross annual receipts. BILLIONS OF DOLLARS. Nonprofits L.100.a Nonprofit Organizations (1) 130 LEVELS, 1387-1992 1987 1988 1989 1990 1991 1 476.4 653.4 767.8 801.3 914.5 1000.8 2 39.8 12.5 2.2 25.0 34.5 17.0 1.7 15.9 47.3 15.9 10.5 20.8 37.8 17.3 0.9 19.6 68.3 20.6 6.6 41.1 60.7 23.2 5.4 32.1 106.6 49.7 35.9 13.8 X 18.9 4.3 32.9 0.9 177.4 75.3 50.3 25.0 29.5 3.7 67.2 1.7 222.3 107.9 82.3 25.6 1.9 45.7 5.0 56.9 4.8 247.8 114.6 80.8 33.8 X 56.0 3.9 70.7 2.5 214.8 117.7 80.9 36.8 0.2 62.8 3.5 29.5 1.1 253.4 120.7 82.5 38.2 0.1 82.9 6.6 37.3 5.9 Credit market instruments U.S. govt, securities Treasury Agency Tax-exempt securities Corporate and fgn. bonds Mortgages Open market paper Security RPs 6 7 8 9 10 11 12 13 14 16 7.7 184.2 4.9 253.4 6.7 300.5 5.9 298.4 6.7 391.0 9.4 417.3 Hutual fund shares Corporate equities 15 16 17 18 19 20 31.3 19.0 19.0 68.7 36.9 25.7 25.7 95.0 31.8 28.5 28.5 102.1 22.3 21.1 21.1 146.8 39.6 26.1 26.1 141.9 56.5 27.3 27.3 148.8 Equity in noncorp. business Security credit Trade credit Miscellaneous assets 17 18 19 20 21 235.1 323.2 367.8 404.5 441.8 481.8 22 23 24 25 26 27 174.5 78.2 81.0 15.3 31.4 29.2 199.6 79.5 104.7 15.5 41.5 82.1 216.0 81.9 123.7 10.3 57.6 94.3 233.7 85.8 139.1 8.8 68.9 101.9 250.3 93.5 151.5 5.3 64.3 127.3 279.0 108.1 163.9 7.0 71.5 131.2 S 4 5 6 7 8 9 10 11 12 13 14 15 1992 Total financial assets Deposits Checkable deposits 8 curr. Time and savings deposits Honey market fund shares Liabilities Credit market instruments Tax-exempt debt Commercial mortgages Bank loans n.e.c. Trade debt Miscellaneous liabilities <1) Does not include religious organizations or organizations with less than $25,000 in gross annual receipts. END OF PERIOD. 1 2 3 4 5 21 22 23 24 25 26 27